Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
AUB Group ( (AU:AUB) ) has provided an update.
AUB Group has completed a fully subscribed institutional placement of approximately 13.6 million new shares at AUD 29.40 per share, raising AUD 400 million at a 7.9% discount to the last traded price. The placement, which drew strong demand from both existing and new investors, will be used alongside new debt facilities to fund the acquisition of UK-based Prestige and associated costs, supporting AUB’s strategy to accelerate its UK retail expansion and pursue further accretive growth opportunities; the group will also offer a non-underwritten share purchase plan of up to AUD 40 million to eligible Australian and New Zealand shareholders, allowing broader investor participation in the capital raising.
The most recent analyst rating on (AU:AUB) stock is a Hold with a A$35.00 price target. To see the full list of analyst forecasts on AUB Group stock, see the AU:AUB Stock Forecast page.
More about AUB Group
AUB Group Limited is an insurance broking and risk services group, providing insurance and related financial services across its network, with a growing strategic focus on expanding its UK retail insurance presence through acquisitions such as Prestige.
Average Trading Volume: 432,839
Technical Sentiment Signal: Buy
Current Market Cap: A$3.72B
Find detailed analytics on AUB stock on TipRanks’ Stock Analysis page.