-- Navigator Global Investments (ASX:NGI) has secured around AU$134 million following the completion of the institutional component of its fully underwritten AU$145 million one-for-8.13 accelerated non-renounceable entitlement offer at AU$2.40 per share, according to a Tuesday Australian bourse filing.
The institutional offering closed on Tuesday with strong participation from eligible institutional shareholders, and any remaining shares were fully allocated among other eligible institutional investors, per the filing.
New shares from the institutional offering are expected to start trading on May 12 on an ex-entitlement basis and will rank equally with the existing shares, the filing said.
The fully underwritten retail component is expected to raise an additional AU$11 million and is scheduled to open on May 11, the filing added.
The company's shares rose 8% in recent Tuesday trade.