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Donaco International Ltd Announces Completion Of AUD25 Million Placement


Wednesday, 27 Mar 2013 06:53pm EDT 

Donaco International Ltd announced that it has received binding commitments from new institutional and sophisticated investors in Australia and overseas for a private placement of 71.4 million shares at AUD0.35 per share to raise approximately $25 million. The funds will be used to finance the completion of the development of the new Lao Cai hotel and casino in Vietnam. The placement, pursuant to Section 708 of the Corporations Act 2001, is being undertaken in two tranches: Tranche 1 – comprising 41.7 million shares, raising AUD14.6 million (which is within the Company’s 15% placement capacity) will be issued on April 05, 2013; Tranche 2 – comprising 29.7 million shares, raising AUD10.4 million will be issued following shareholder approval, which is expected to be sought at a General Meeting in early May. Baillieu Holst Ltd and Canaccord Genuity (Australia) Limited acted as Joint Lead Managers to the placement. 

Company Quote

0.73
-0.0050 -0.68%
21 Nov 2014