G8 in capital raising

Childcare operator G8 hopes to raise $60 million in a share placement.

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.

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