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An announcement from Coventry Group Limited ( (AU:CYG) ) is now available.
Coventry Group Limited has announced a non-renounceable pro-rata entitlement offer, allowing eligible shareholders to purchase two new shares for every seven shares held at a price of $0.60 per share, aiming to raise approximately $20 million before costs. The company expects this offer to have minimal impact on its control, as it is structured to maintain proportional ownership among shareholders, although those who do not participate may experience dilution.
The most recent analyst rating on (AU:CYG) stock is a Buy with a A$1.24 price target. To see the full list of analyst forecasts on Coventry Group Limited stock, see the AU:CYG Stock Forecast page.
More about Coventry Group Limited
Average Trading Volume: 34,271
Technical Sentiment Signal: Sell
Current Market Cap: A$84.1M
For detailed information about CYG stock, go to TipRanks’ Stock Analysis page.