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Downer EDI (ASX:DOW) has completed the institutional component of its 279 million dollar capital raising but doubts remain over its success.
The group raised 200 million dollars from institutions in the 1-for-4 renounceable entitlement offer at $3.25 a share.
Downer says it received strong support for the raising - eligible institutional shareholders taking up 97 per cent of their stake in the pie.
However a Commonwealth Bank (ASX:CBA) analyst described it as a band-aid solution to appease credit rating firm Fitch.
Another analyst from Macquarie (ASX:MQG) questioned whether the extra equity will be enough.
Shares rallied at the close of trade yesterday.
Downer EDI made a loss of over 103 million dollars to December 31.
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News: Doubts over Downer capital raising success
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Last
$5.75 |
Change
-0.060(1.03%) |
Mkt cap ! $3.626B |
Open | High | Low | Value | Volume |
$5.81 | $5.82 | $5.75 | $4.730M | 820.8K |
Buyers (Bids)
No. | Vol. | Price($) |
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4 | 14315 | $5.75 |
Sellers (Offers)
Price($) | Vol. | No. |
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$5.77 | 2637 | 2 |
View Market Depth
No. | Vol. | Price($) |
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1 | 11207 | 7.790 |
9 | 88463 | 7.780 |
14 | 155873 | 7.770 |
4 | 46490 | 7.760 |
4 | 41979 | 7.750 |
Price($) | Vol. | No. |
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7.810 | 15057 | 2 |
7.820 | 86140 | 8 |
7.830 | 173913 | 17 |
7.840 | 107016 | 11 |
7.850 | 23268 | 5 |
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DOW (ASX) Chart |