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Aristocrat Leisure Ltd says it has completed an institutional placement of about 61.5 million ordinary shares at $3.25 per share to raise $200 million.
"We are delighted with the response we have received from our existing shareholders and also from new investors," executive chairman David Simpson said in a statement on Wednesday.
"The proceeds of this placement will position us strongly to deal with the current operating environment and further strengthen our position for future growth."
Aristocrat will seek a further $75 million through an offer to eligible shareholders of up to $10,000 of shares through a Share Purchase Plan (SPP).
The SPP will be priced at $3.25 or a 2.5 per cent discount to the average volume weighted share price of Aristocrat shares traded on the ASX between May 12 and May 29 inclusive.
There is also an offer to shareholders in the family of Aristocrat founder Len Ainsworth of up to 6.2 million shares at $3.25 per share to raise a maximum $20 million if all shares are taken up under that offer.
Both the SPP and the Ainsworth Offer are non-underwritten.
Aristocrat said it expected the share trading halt currently in place would be lifted at the commencement of trading on Wednesday.
Aristocrat Leisure last traded at $3.98.
Source: Brisbane Times
