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Capital raise

Paladin raises $192 Million

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ASX-listed Paladin Energy ((PDN)) last week announced a $218.7 capital raise. At the time of writing $192.5m had been successfully completed via an institutional placement and the institutional component of the entitlement offer. The balance of funds will be raised (also at $0.37) via a fully underwritten retail entitlement offer which opens on March 24.

Under the placement, roughly 347.3 million new shares were issued to raise $128.5 million.

The institutional entitlement offer raised the remaining $64 million through the issue of 173 million new shares.

Shares under both the placement and entitlement offer were priced at 37 cents, a 20.4 per cent discount to Paladin’s trading price of 46.5 cents on March 16 and a 17.2 per cent discount to the five-day volume-weighted average price.



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Additionally, under the institutional entitlement offer, shareholders received one new share for every 8.5 held.

Shares are expected to settle on March 25 and begin trading on the ASX on March 26.



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