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
Australian Vanadium (ASX:AVL) - Managing Director, Vincent Algar

" Australian Vanadium (ASX:AVL) enters mid-week trading halt

Australian Vanadium (ASX:AVL) has entered a mid-week trading halt pending an upcoming capital raising.

" The a2 Milk Company (ASX:A2M) downgrades FY21 earnings guidance

The a2 Milk Company (ASX:A2M) has downgraded its revenue and earnings guidance for the current financial…
The Market Herald Video

" Capital raising and IPO news: Orcoda (ASX:ODA) raises for vehicle buy

Logistic tech business Orcoda (ASX:ODA) raised just over $1.25 million through a placement and share purchase plan to…

" Nanollose (ASX:NC6) signs collaboration deal with Paradise Textiles

Nanollose (ASX:NC6) pens a collaboration agreement with Paradise Textiles in an aim to create a more…