InvoCare to Raise AUD 85 Million to Bolster the Balance Sheet, and Fund Ongoing Growth Initiatives
Wide-moat InvoCare is undertaking an institutional placement to raise AUD 65 million, and an additional share purchase plan, or SPP, capped at AUD 20 million. The institutional placement is underwritten with a AUD 13.30 floor price, a 7% discount to the last closing price, and a 17% discount to our unchanged AUD 16.00 per share fair value estimate. The SPP is not underwritten and will be priced at the lesser of the issue price of the Institutional Placement, or the volume weighted average price,...Invocare is a provider of services in the funeral industry in Australia, New Zealand and Singapore with smaller operations in Hong Kong and the U.S. Through its associate, Co. provides online memorial services to allow families and communities to celebrate the life of a loved one.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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