Source: EBOS
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  • EBOS Group (EBO) completes a placement, raising $642 million to partly fund its acquisition of LifeHealthcare
  • The placement comprised 9.5 million new fully paid ordinary shares at NZ$34.50 (A$32.80) representing a 5.5 per cent discount to the last closing price
  • EBO intends to conduct a non-underwritten retail offer to eligible existing shareholders to raise up to $100 million
  • CEO John Cullity says through the acquisition of LifeHealthcare, EBO will accelerate its medical device strategy and capitalise on future growth opportunities
  • On market close, EBOS is up 4.64 per cent and is trading at $36.31 per share

EBOS Group (EBO) has completed a placement, raising $642 million to partly fund its acquisition of LifeHealthcare.

Yesterday, the company entered into a trading halt while it undertook the raise.

LifeHeathcare is listed on the ASX and NSX, and is the largest Australasian marketer, wholesaler and distributor of healthcare, medical and pharmaceutical products.

It is also an Australasian animal care brand owner, product marketer and distributor.

Through the acquisition of LifeHealthcare, CEO John Cullity said the company aims to accelerate its medical devices strategy and create a platform to capitalise on additional future growth opportunities.

“We look forward to completion and the integration of LifeHealthcare into our existing institutional healthcare division,” he said.

To support the acquisition, EBO has undertaken an underwritten placement of 19.5 million new fully paid ordinary shares at an issue price of NZ$34.50 (A$32.80) representing a 5.5 per cent discount to the last closing price on December 8.

According to the company, the raising was strongly supported by a broad range of existing and new investors across New Zealand, Australia and offshore.

Following the placement, EBO intends to conduct a non-underwritten retail offer to eligible existing shareholders to raise up to $100 million, with the ability to accept
over-subscriptions at its discretion. Eligible shareholders will receive a retail offer booklet with full details of the offer.

EBOS’ ordinary shares recommenced trading today and settlement of the placement is expected to occur on December 14 for the ASX, and the following day for the NSX.

On market close, EBOS were up 4.64 per cent and is trading at $36.31 per share.

EBO by the numbers
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