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  • Travel management and expense company Serko (SKO) completes $72m placement
  • The Placement was fully subscribed at the price determined in the bookbuild of NZ$7.05 (A$6.77) per share
  • The placement attarcted bids well in excess of the NZ$75 million (A$72 million) total offer amount from institutional and other select investors in both local and offshore markets.
  • On the market, Serko last traded at $6.16 per share

Serko Limited (SKO) has announced the successful completion of its NZ$75 million (A$72 million) placement.

The placement was fully subscribed at the price determined in the bookbuild of NZ$7.05 (A$6.77) per share. This represents a 10.2 per cent discount to the closing price of NZ$7.85 (A$7.54) on 23 November 2021.

The placement attracted bids well in excess of the NZ$75 million (A$72 million) total offer amount from institutional and other select investors in both local and offshore markets.

“The capital raising enables Serko to continue to invest to capture the growth opportunities across key markets, and realise our vision of transforming from an online booking tool into a global marketplace,” Serko CEO Darrin Grafton said.

“We are pleased with the level of support received for the raise from new and existing investors.”

The new shares issued as part of the placement will have the same voting rights as Serko’s existing ordinary shares.

As announced on 24 November 2021, Serko is also undertaking a NZ$10 million (A$9.6 million) retail offer.

Serko last traded at $6.16 per share at 2:15 pm AEDT.

SKO by the numbers
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