Total
0
Shares
Market Herald logo

Find out more about this capital raise

Be the first with the news that moves the market
  • Household cleaning products company Pental Limited (ASX:PTL) plans capital raise ahead of a planned acquisition
  • PTL shares will remain in a trading halt until Friday or when the company releases more information to the market
  • PTL shares last traded at 44 cents apiece

Household cleaning products company Pental Limited (PTL) has entered into a trading halt as it plans an upcoming capital raise.

The shares will remain in trading halt until Friday, 20 August or when the announcement is released to the market.

It’s been reported that the business is aiming to move into ecommerce, raising funds to go towards the $28.3 million purchase of Hampers with Bite.

Pental, the business behind household brands such as White King, Softly and Duracell, is raising $6 million via a placement to institutional investors to help fund the acquisition.

At 38¢ per share, the raise comes at a 13.6 per cent discount to its last trading price. The placement will be accompanied by a $2 million share purchase plan (SPP) for retail investors, capped at $30,000 per eligible shareholder.

PTL shares last traded at 44 cents apiece.

PTL by the numbers
More From The Market Herald
Cannon Resources (ASX:CNR) - CEO, Steve Lynn

" Cannon Resources (ASX:CNR) enters first trading halt since ASX listing

Cannon Resources (CNR) has entered a trading halt while it plans the details of an upcoming capital raising.
AD1 Holdings (ASX:AD1) - Non Executive Chairman, Andrew Henderson

" AD1 Holdings (ASX:AD1) halts shares ahead of fundraise

AD1 Holdings (AD1) is considering raising more capital after placing its securities in a trading halt on the ASX.
Peak Minerals (ASX:PUA) - Principal Geologist, Barbara Duggan

" Peak Minerals (ASX:PUA) eyes additional capital

Peak Minerals (PUA) has entered a trading halt pending an announcement to the market regarding a capital raise.

" Allegiance Coal (ASX:AHQ) enters trading halt as it plans capital raise

Allegiance Coal (AHQ) has entered the day into a trading halt while it plans an upcoming capital raise.