By Sheri Kasprzak
New York, June 5 - IBA Health Ltd. has completed a A$28,296,000 private placement.
The company issued 39.3 million shares at A$0.72 each to a group of international and Australian institutional investors.
The price per share is a 16% discount to the company's A$0.86 closing stock price the day before trading was halted to conduct the offering.
As part of the offering, Macquarie Bank Ltd. agreed to sell 18.1 million of its shares of IBA.
BBY Ltd. and ABN Amro Morgans Ltd. were the placement agents.
Proceeds will be used for the company's Asian growth strategy.
Based in Sydney, Australia, IBA provides information and communications services for health care providers, patients and payers.
| Issuer: | IBA Health Ltd.
|
| Issue: | Stock
|
| Amount: | A$28,296,000
|
| Shares: | 39.3 million
|
| Price: | A$0.72
|
| Warrants: | No
|
| Placement agents: | BBY Ltd. and ABN Amro Morgans Ltd.
|
| Settlement date: | June 5
|
| Stock symbol: | Australia: IBA
|
| Stock price: | A$0.77 at close June 5
|
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