G8 in capital raising
- {{x.value}}
{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter verification code' }}
{{ completedStep1 ? 'Authentication & Security' : content.trialHeading.replace('{0}', user.FirstName) }}
{{ content.upgradeHeading.replace('{0}', user.FirstName) }}
The email address you entered is registered with InvestSMART
Please login to continue
We have sent you an email with the details of your registration.
Looks you are already a member. Please enter your password to proceed
{{ upgradeCTAText }}
Updating information
Please wait ...
Your membership to InvestSMART Group recently failed to renew.
Please make sure your payment details are up to date to continue your membership.
Having trouble renewing?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
You've recently updated your payment details.
It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.
If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.
Still having trouble viewing content?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
Please click on the ACTIVATE button to activate your Intelligent Investor 15-day free trial
Please click on the ACTIVATE button to finalise your membership
Unsuccessful registration
Registration for this event is available only to Eureka Report members. View our membership page for more information.
Registration for this event is available only to Intelligent Investor members. View our membership page for more information.
- You are already registered for this event.
- This event is already full.
- Please select a quantity for at least one ticket.
- {{ i }}
Forgotten password
Please enter your email address below to request a new password
- Verify your email address by clicking on the link we sent to {{user.Email}}
- You now have free access, we look forward to helping you on your financial journey.
G8 Education (GEM) is wasting little time in making hay while the sun shines with the childcare centre operator going into a trading halt to announce a capital raising.
Management is looking to do a share placement to sophisticated and professional investors, and The Australian reports that G8 is hoping to get $60.1 million at $3.10 a new share, which is a modest 7.2% discount to its last traded price.
The equity raising comes hot on the heels of its senior unsecured note offering that raised $70 million for the company.
G8 has already committed the proceeds from the note offering for the purchase of 51 childcare centres for $71.2 million.
Going by the company’s acquisition history, these new centres should be earnings accretive on settlement and will add around $18 million to earnings before interest and tax on a 12-month basis.
The placement is almost certain to be earmarked for more acquisitions and the company lifted its debt facility by $29.25 million to $85.75 million from the Bank of Western Australia in May this year.
G8 last traded at a record high of $3.34 yesterday after its share price surged 162% over the year. G8 is part of the Uncapped 100.
----------