carsales.com: Completes $183m retail offer

carsales.com Completes $183m retail offer

• carsales.com (CAR) completes the retail component of its non-renounceable entitlement offer and raises roughly $183 million
• The funds were raised through the issue of approximately 10.3 million new shares at a price of $17.75 per share
• On June 27, the platform announced it had launched a 1.2 billion entitlement offer to acquire the remaining 51 per cent interest in Trader Interactive for US$809 million (A$1.19 billion)
• The institutional component was completed on June 29 with $842 million raised on the same terms as the retail offer
• Shares in the company are down 3.62 per cent and are trading at $18.63 at 1:58 pm AEST