Company also completes retail shortfall bookbuild

Costa succesfully completes retail entitlement offer

Costa Group Holdings Limited, the large Australian grower, packer and marketer of fresh fruit and vegetables today announces the successful completion of the retail component of its fully underwritten 1 for 6.33 pro rata accelerated renounceable entitlement offer with retail rights trading.

Key Highlights:

  • The Retail Entitlement Offer closed on Monday, 19 July 2021, with approximately $50 million in successful applications received
  • Approximately 8.5 million retail entitlements will be offered under the Retail Shortfall Bookbuild, to commence after market close today (Thursday, 22 July 2021).

Completion of the Retail Entitlement Offer represents the second stage of Costa's Entitlement Offer to raise approximately $190 million, announced on Wednesday, 23 June 2021. The institutional  component of the Entitlement Offer closed on Thursday, 24 June 2021 and the institutional shortfall bookbuild closed on Friday, 25 June 2021.

Summary of the Retail Entitlement Offer

Approximately $50 million in successful applications under the Retail Entitlement Offer were received, representing a participation rate of approximately 66%. Approximately 8.5 million retail entitlements will be offered under the Retail Shortfall Bookbuild which will commence after market close today (Thursday, 22 July 2021).

In addition, retail entitlements worth approximately $1.0 million were traded on the ASX between Monday, 28 June 2021 and Monday, 12 July 2021, in a range between $0.195 and $0.37. The volume weighted average price for retail entitlements traded during this period was $0.25

Completion of the retail shortfall bookbuild
Costa Group also announces the completion of the retail shortfall bookbuild for the retail component of its fully underwritten 1 for 6.33 pro-rata accelerated renounceable entitlement offer with retail rights trading.

Key Highlights

  • Approximately 8.5 million retail entitlements were offered under the Retail Shortfall Bookbuild, which commenced after market close yesterday (Thursday, 22 July 2021)
  • Retail Shortfall Bookbuild clearing price of $3.32 per new share, representing a $0.32 premium to the offer price of $3.00 per new share
  • The completion of the Retail Shortfall Bookbuild represents the final stage of the entitlement offer announced by Costa on Wednesday, 23 June 2021 ("Entitlement Offer") which raised gross proceeds of approximately $190 million

Retail entitlements not taken-up and the entitlements of other ineligible retail shareholders were offered in the Retail Shortfall Bookbuild conducted after market close on Thursday, 22 July 2021.

Click here to read the retail entitlement offer PR.
Click here to read the bookbuild PR.


For more information:
Michael Toby
Costa Group
Tel.: +61: +613 8363 9071
Email: investors@costagroup.com.au


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