Brief: Zip Co To Raise A$217 Mln

Zip Co

17/07/2024 02:20

July 17 (Reuters) - Zip Co Ltd  ZIP.AX :
    * FULLY UNDERWRITTEN EQUITY PLACEMENT TO RAISE A$217M
    * NON-UNDERWRITTEN SHARE PURCHASE PLAN TO RAISE UP TO A
FURTHER
A$50M
    * PROCEEDS FROM RAISING TO FUND EARLY REPAYMENT OF EXISTING
CORPORATE DEBT FACILITY AND ASSOCIATED EXIT FEE
    * PROPOSED TRANSACTION IS EPS ACCRETIVE FOR ZIP SHAREHOLDERS
IN
FY25
    * NEW SHARES ISSUED UNDER PLACEMENT WILL BE ISSUED AT A
PRICE PER
SHARE EQUAL TO HIGHER OF A$1.52

Further company coverage:  ZIP.AX 

 ((Reuters.Briefs@thomsonreuters.com;))