National Tyre & Wheel Launches Major Share Offer

National Tyre & Wheel Ltd. (AU:NTD) has released an update.

National Tyre & Wheel Ltd. has initiated a 1 for 4 pro-rata non-renounceable entitlement offer to raise approximately $12.41 million, with proceeds intended to fund working capital for their new Dunlop tyre distribution business. The offer, underwritten by Exldata Pty Ltd, will add around 33.5 million new shares, increasing the total to approximately 167.7 million shares. The offering, available only to eligible shareholders, is open from September 26 to October 10, 2024, without the need for a prospectus or disclosure document.

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