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An announcement from Coventry Group Limited ( (AU:CYG) ) is now available.
Coventry Group Limited announced the results of its entitlement offer, raising approximately $11.5 million through the issuance of 19,104,553 ordinary shares at $0.60 each. The offer saw applications for 18,565,089 new shares and 539,464 additional shares under the shortfall facility. Upon completion, the total shares on issue will increase to 138,395,859. The company plans to issue the new shares on October 13, 2025, with trading expected to commence on October 14, 2025. This capital raising effort is significant for Coventry Group as it enhances its financial position and potentially strengthens its market presence.
The most recent analyst rating on (AU:CYG) stock is a Hold with a A$0.50 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
Coventry Group Limited operates in the industrial supply sector, focusing on the distribution of fasteners, industrial products, and related services. The company primarily serves the construction, mining, and manufacturing industries in Australia.
Average Trading Volume: 43,319
Technical Sentiment Signal: Sell
Current Market Cap: A$90.49M
See more insights into CYG stock on TipRanks’ Stock Analysis page.