WAM Capital Limited announces it has successfully raised $24.7million (13.8 million ordinary shares) through a placement to professional and sophisticated investors. WAM Capital Chairman Geoff Wilson said: The Placement has been significantly oversubscribed with strong interest from a range of investors. Listing the ASX BookBuild platform to help facilitate the Placement was straightforward and the process ran smoothly. It's a credit to Ben Bucknell and the team at On-Market BookBuilds. said Mr Wilson. WAM Capital announced on Monday it intended to offer approximately $15 million (8.3 million ordinary shares) through the Company's Dividend Reinvestment Plan (DRP) shortfall however, in response to demand the Board resolved to increase the size of the Placement. WAM Capital will invest the proceeds of the Placement in accordance with the Company's disciplined and proven investment process providing shareholders with exposure to a diversified portfolio of undervalued growth companies. Full Details: (VIEW LINK)
Afternoon James, many companies have told us they would be watching with great interest as to how the first transaction would go. Today was a fantastic endorsement of how the ASX BookBuild Facility works. WAM Capital, by using the facility, was able to access every eligible investor in the market and have their placement oversubscribed by 67%.
As a result of this raising have you received more interest in the platform from brokers and also from companies?