Abano Healthcare, the specialist health clinic investor facing a potential takeover bid, wants to raise up to $18.5 million at an 8.6 per cent discount in a share purchase plan and placement to institutions and eligible investors.
The Auckland-based company raised $9.25 million at $5.95 a share in an underwritten placement to selected institutions and sophisticated investors, and is seeking another $9.25 million from shareholders at the same price.
The company's shares closed down 11c yesterday at $6.40.
Abano batted away an informal proposal from a third party linked with director Peter Huston offering more than $100 million to buy the company, and will probably face a takeover bid by the group, which wants to invest and operate in the Australasian dental sector.
Forsyth Barr was the underwriter of the placement, and allotment of the new shares is scheduled for September 2. The share purchase plan will open on September 13 and close on October 1, with $5.75 million underwritten by Forsyth Barr.
