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Aristocrat Leisure Ltd launches A$375 mln underwritten placement and A$60 mln Ainsworth offer and share purchase plan

Sunday, 6 Jul 2014 07:25pm EDT 

Aristocrat Leisure Ltd:Says that it undertake fully underwritten placement to qualified and sophisticated institutional investors to raise about A$375 mln (placement), placement to Ainsworth family shareholders of up to A$30 mln (Ainsworth offer) and share purchase plan (SPP) (together capital raising).Ainsworth offer and SPP will be capped at A$60 mln and are non-underwritten.Proceeds from capital raising will be used to partly fund acquisition, assuming regulatory approvals are obtained and the transaction completes.In interim period, proceeds will be used to repay existing debt.Placement will be offered to qualified and sophisticated institutional investors.Placement price will be determined by way of variable price bookbuild with underwritten floor price of A$5.12 per share (placement price).Settlement of placement is expected on July 11, with allotment expected on July 14.