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Eagers Automotive Limited ( (AU:APE) ) has issued an update.
Eagers Automotive Limited has successfully completed the institutional component of its A$452 million equity raising initiative, which includes a partially underwritten Accelerated Non-Renounceable Entitlement Offer (ANREO) and a strategic placement to Mitsubishi Corporation. The institutional offer raised approximately A$143 million, with strong support from existing shareholders, while the retail entitlement offer aims to raise A$309 million. This capital raising effort is expected to strengthen Eagers’ financial position and enhance its market presence, with new shares being issued at a significant discount to recent trading prices.
The most recent analyst rating on (AU:APE) stock is a Buy with a A$32.00 price target. To see the full list of analyst forecasts on Eagers Automotive Limited stock, see the AU:APE Stock Forecast page.
More about Eagers Automotive Limited
Eagers Automotive Limited is a company operating in the automotive industry, primarily focused on the sale and distribution of motor vehicles and related services. It is listed on the Australian Securities Exchange (ASX) under the ticker APE.
Average Trading Volume: 424,906
Technical Sentiment Signal: Buy
Current Market Cap: A$7.57B
See more data about APE stock on TipRanks’ Stock Analysis page.