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Southern Cross Electrical Engineering Ltd (ASX:SXE)

ALERT: Price-sensitive ASX Announcement for SXE
Current share price for SXE : $4.270 0.25 (6.22%)+
Announcement
Release
16 Jun 2026 8:22AM
Price at Release
$4.020
Full Release
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Summary
Southern Cross Electrical Engineering Limited (SCEE) has successfully completed a $150 million institutional placement by issuing approximately 37.5 million new shares at $4.00 each. This placement, which was fully underwritten, garnered significant support from both existing and new investors. The funds raised will be utilized for working capital, new project awards, and potential future acquisitions aimed at geographic diversification or enhancement of capabilities. Additionally, SCEE plans to offer a Share Purchase Plan (SPP) to eligible shareholders in Australia and New Zealand, targeting an additional $15 million. The SPP shares will be priced at $4.00, matching the placement price, and the initiative is set to begin on June 23, 2026.
Key Points
  • Successful $150m institutional placement completed.
  • 37.5 million new shares issued at $4.00 each.
  • Strong investor support from existing and new stakeholders.
  • Funds to support working capital and future acquisitions.
  • Share Purchase Plan (SPP) targeting additional $15m for eligible shareholders.
  • SPP shares priced equally at $4.00.
  • SCEE aims to enhance geographic diversification and capabilities.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.