Billabong International

Billabong International has announced a $225m six for seven non-renounceable entitlement offer pitched at $1.02 per share; a whopping 44% discount to the share price prior to the announcement. New chief executive Launa Inman plans to shut 140 stores by 30 June 2013, and use the proceeds of the capital raising to reduce debt. The company also announced yet another profit downgrade, and the share price is now trading below the offer price. That means eligible shareholders can buy shares cheaper on market than through the entitlement offer. Billabong still isn't out of the woods. It still has debt,...

Billabong International has announced a $225m six for seven non-renounceable entitlement offer pitched at $1.02 per share; a whopping 44% discount to the share price prior to the announcement. New chief executive Launa Inman plans to shut 140 stores by 30 June 2013, and use the proceeds of the capital raising to reduce debt. The company also announced yet another profit downgrade, and the share price is now trading below the offer price. That means eligible shareholders can buy shares cheaper on market than through the entitlement offer.

{{content.question}}

{{ twilioFailed ? 'SMS Code Failed to Send…' : 'SMS Code Sent…' }}

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa
Mastercard

The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device


Register as a new member

(using a different email)

Related Articles