Shaw and Partners has been appointed Joint Lead Manager and Underwriter (alongside Bell Potter) to the $55.6m accelerated, non-renounceable underwritten rights issue for IVE Group Ltd (ASX:IGL).
The rights issue offers investors a 1 for 4.4 fully underwritten accelerated, non-renounceable pro rata entitlement offer at an offer price of A$2.05 on a cum dividend basis (final dividend of 6.4 cents in FY17). This translates into a 5.5% discount to the last close price of $2.17 on Friday, 25 August 2017 and a 4.5% discount to TERP of A$2.147 as at Friday, 25 August 2017.
IVE is a vertically integrated marketing services and print communications provider. IVE enables its customers to communicate more effectively with their customers by creating, managing, producing and distributing content across multiple levels.
The net proceeds of the Entitlement Offer will be used as follows:
The marketing services and print communications industry is dynamic and constantly evolving. IVE’s response to this evolution has been to maintain relevance with its customers through ongoing investment and expansion of its product & service offering and through an effective combination of both organic growth initiatives and strategic acquisitions.
The offer is anticipated to be well supported by retail and institutional investors alike. For more information, visit http://www.shawandpartners.com.au/contact/email-us or call 1800 636 625.
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