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Megaport Completes Institutional Component of Over AU$827 Million Entitlement Offer

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Megaport (ASX:MP1) completed the institutional component of its fully underwritten 1-for-3.08 pro rata accelerated non-renounceable entitlement offer at AU$14.30 per share, according to a Friday Australian bourse filing.

The company raised gross proceeds of roughly AU$518 million and will issue about 36.2 million new shares, per the filing. The new shares issued under the institutional entitlement offer are expected to start trading on June 15.

The company said the retail component of the entitlement offer is expected to raise about AU$309 million, opening June 11 and closing June 29.

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