Greencross surges following acquisition of City Farmers

June 18, 2014

Greencross shares surged 7% today on the resumption of trading following its announcement of the successful completion of its Placement and Institutional Offer.

Greencross Limited (“Greencross”) today announced the successful completion of a $69 million placement to institutional investors (“Placement”) and the $30 million institutional component of its 1 for 15 accelerated pro-rata non-renounceable entitlement offer (“Institutional Entitlement Offer”). The offer price for all of the shares (“New Shares”) under both the institutional component and the retail component of the equity raising is $8.45 per New Share (“Offer Price”).

At the time of publishing Greencross shares were trading at $9.80, a premium of 16.0% to the Retail Offer price.