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Navigator Global Investments Completes AU$145 Million Entitlement Offer

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Navigator Global Investments (ASX:NGI) said it has completed the retail component of its AU$145 million fully underwritten accelerated pro rata non-renounceable entitlement offer at AU$2.40 per share, with eligible retail shareholders applying for about 1.7 million shares worth AU$4.1 million, representing a take-up rate of about 38%, according to a Friday Australian bourse filing.

The company said entitlements not taken up by eligible retail shareholders and entitlements of ineligible retail shareholders, representing about 2.8 million shares worth AU$6.8 million, will be allotted to sub-underwriters.

The retail component follows the institutional component, which raised about AU$134 million when it closed on May 5, bringing total proceeds from the entitlement offer to about AU$145 million, the filing added.

New shares issued under the retail component are expected to be allotted on June 2 and start trading on June 3, ranking equally with existing shares from the date of allotment, it added.

The company's shares rose 1% in recent Friday trade.

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