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carsales.com: Completes $183m retail offer | Fintech InShorts: Latest fintech news, analysis by experts

Less than 1 min.Read

carsales.com: Completes $183m retail offer

By Steve Sam

July 15, 2022

carsales.com Completes $183m retail offer

carsales.com (CAR) completes the retail component of its non-renounceable entitlement offer and raises roughly $183 million
The funds were raised through the issue of approximately 10.3 million new shares at a price of $17.75 per share
On June 27, the platform announced it had launched a 1.2 billion entitlement offer to acquire the remaining 51 per cent interest in Trader Interactive for US$809 million (A$1.19 billion)
The institutional component was completed on June 29 with $842 million raised on the same terms as the retail offer
Shares in the company are down 3.62 per cent and are trading at $18.63 at 1:58 pm AEST

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