Decmil: Shares plummet despite $50M raise
- Decmil Group (DCG) has seen its share price more than halved after it reinstated on the ASX for the first time in a fortnight
- The deal would offer share holders 4.2 shares for each share held for five cents, a discount of 75 per cent when the shares last traded in mid May
- The partially underwritten retail component of the offer will open later this week, and will look to complete the desired $50 million raise
- Proceeds will go towards funding the company’s turnaround strategy, after they ran into trouble on several projects
- The retail component of the entitlement offer expected to open on Friday morning and will close on Wednesday June 17 2020
- Decmil closed more than 53 per cent lower today, with their shares selling for 9.3 cents each
