Steadfast Group Raises $225m in institutional placement
- Steadfast Group (SDF) raises $225 million through its institutional placement to fund its ongoing acquisitions of the Trapped Capital pipeline
- The company will issue about 43.8 million new shares at $5.14 each, representing a 3.2 per cent discount to the dividend-adjusted last close price on Tuesday of $5.31
- Given the allotment of the new shares will take place after the ex-dividend date, there will be no entitlement for a FY22 dividend
- Managing Director and CEO Robert Kelly said he was pleased with the level of interest seen in the placement
- Shares are trading 1.86 per cent lower today to close at $5.29
