AUB Group Completes AU$400 Million Institutional Placement
MT Newswires Live
Jan 28
AUB Group (ASX:AUB) completed an AU$400 million institutional placement to fund the acquisition of UK-based insurance underwriting platform Prestige and associated costs, according to a Wednesday filing with the Australian bourse.
Under the placement, the company will issue about 13.6 million new shares at a price of AU$29.40 apiece, the filing said.
The offer price represents a 7.9% discount to the stock's last traded price, the filing added.
The placement is expected to settle on Friday, the company said.
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