- Frontier Digital Ventures (FDV) will acquire leading classifieds companies, Fincaraíz, Avito and Tayara from Adevinta for roughly $56 million
- The acquisitions represent a compelling opportunity for FDV to extend the presence of its operating companies as well as positively contribute to revenue
- To fund the acquisition, FDV will raise up to $100M through an institutional placement and a one-for-nine two trance entitlement offer
- Then the acquisition will cost Frontier around $56M which it will fund through a capital raise of up to $100M
- The leftover $44M will go towards growth capital, a stronger balance sheet and transaction costs
- Company shares closed in the grey trading flat at $1.57
Frontier Digital Ventures: Launches $100M capital raise to fund $56M purchases
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