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Coronado completes retail raising

11th September 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – ASX-listed Coronado Global Resources has completed the retail component of its 2-for-11 pro-rata accelerated entitlement offer, raising proceeds of some A$9.6-million.

The retail component of the entitlement offer formed part of a larger A$250-million capital raise which also included a fully underwritten share placement to raise A$145-million, while the entitlement offer would raise A$105-million.

Coronado on Friday noted that the overall uptake rate, including additional new chess depositary interests (CDI) applied for in excess of the entitlement, was some 87%. The remaining 2.5-million new CDIs not taken up by the eligible retail security holders will be allocated to the sub-underwriters, with total gross proceeds from the retail entitlement offer being A$11-million.

The company previously said that the capital raised would be used to repay debt.

Edited by Creamer Media Reporter

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