Metcash (ASX:MTS) set to raise $330 million

20Apr

Metcash (ASX:MTS) set to raise $330 million

 

Metcash (ASX:MTS) today announced the launch of an Equity Raising of up to $330 million through which Metcash is seeking to strengthen its balance sheet and enhance liquidity.

The shares with institutional investors will be at $2.80 per share, which equals a 7.9 per cent discount to the last closing price.

They report their food sales trajectory pre COVID-19 has continued to improve and there was a significant uplift in sales in March / early April reflecting a change in consumer behaviour related to COVID-19 restrictions.

Hardware sales declined 1.3 per cent in the five months ended March 20202, which is an improvement on the decline in 1H20 of 4.2 per cent.

Shares in Metcash (ASX:MTS) are in a Trading Halt – Last traded at $3.04
 
Copyright 2020 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

30Mar

Macmahon Holdings (ASX:MAH) selected to provide services to Anglo American’s mine

30 Mar 2021 - Macmahon Holdings (ASX:MAH) has been selected to provide surface mining services for Anglo American’s Dawson Mine in Queensland at the Dawson South operations, from July 2021.

Read More
18Sep

Anglo (ASX:AAR) successfully completes $11M placement

18 Sep 2020 - Gold and base metals explorer Anglo Australian Resources (ASX:AAR) has received firm commitments for an $11 million single-tranche placement at $0.17.

Read More
02Dec

National Australia Bank (ASX:NAB) appoint Les Matheson to its Executive Leadership Team

02 Dec 2020 - National Australia Bank (ASX:NAB) today announced the appointment of Les Matheson to its Executive Leadership Team.

Read More
31May

Stocks of the Hour: REA Group, Link Administration & Nuix

31 May 2021 - A snapshot of the companies grabbing headlines today.

Read More
04Aug

Inghams (ASX:ING) meat processing facilities impacted by restrictions

04 Aug 2020 - Victoria’s lockdown restrictions will impact operations at poultry producer Ingham’s (ASX:ING) two meat processing facilities at Somerville and Thomastown.

Read More
31Aug

Stocks of the Hour: Stealth Global, Silex Systems, 4DMedical

31 Aug 2022 - A snapshot of the stocks on the move featuring Stealth Global (ASX:SGI), Silex Systems (ASX:SLX) and 4DMedical (ASX:4DX).

Read More
29Apr

Coles (ASX:COL) supermarket sales grow 13% in the quarter

29 Apr 2020 - Coles (ASX:COL) supermarket sales have soared in the third quarter.

Read More
29Jan

Stocks of the Hour: Mako Gold, Cobre, icetana

29 Jan 2024 - A snapshot of the stocks on the move, featuring Mako Gold (ASX:MKG), Cobre (ASX:CBE) and icetana (ASX:ICE).

Read More
05Sep

Stocks of the Hour: Empire Energy, INOVIQ, Southern Cross Gold

05 Sep 2023 - A snapshot of the stocks on the move, featuring Empire Energy (ASX:EEG), INOVIQ (ASX:IIQ) and Southern Cross Gold (ASX:SXG).

Read More
03Feb

Amcor (ASX:AMC) lifts dividend and upgrades earnings

03 Feb 2021 - Packaging company Amcor (ASX:AMC) has upgraded its guidance for earnings growth for the 2021 financial year and raised its dividend after it’s first half results.

Read More