Thursday, 10 December 2009
CSG Limited has successfully completed the book build in relation to the $65m equity raising (“Offer”) that was announced earlier today. The Offer was well supported with very strong demand from both existing and new institutional investors.
The proceeds of the Offer will be used by CSG to fund the acquisition of a 90% interest in New Zealand’s market leading print services business Konica Minolta Business Solutions New Zealand Limited (“KMBS”).
Commenting on the Offer, CSG Managing Director Mr Denis Mackenzie said: “The support by new and existing shareholders in the Offer is a strong endorsement of CSG’s strategy. The KMBS acquisition is immediately accretive and will enable CSG to gain a market leading position in the lucrative New Zealand market.”
The Offer comprised two components:
- Unconditional Placement of approximately A$42 million (with settlement on Wednesday 16 December 2009); and
Conditional Placement of approximately A$23 million.
- The Conditional Placement will settle on Monday 25 January 2010, subject to shareholder approval at the CSG EGM on Wednesday 20 January 2010.