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Cash Converters International Limited ( (AU:CCV) ) has issued an update.
Cash Converters International Limited has announced an equity raising initiative through a fully underwritten institutional placement and a partially underwritten pro-rata accelerated non-renounceable entitlement offer. The initiative aims to issue 65,573,770 new shares to raise approximately A$20 million, which will account for about 9.24% of the company’s issued shares post-completion. The largest shareholder, EZCORP Inc., has committed to fully subscribing to its entitlement, and the equity raising is underwritten by Bell Potter Securities Limited. The impact on company control will depend on existing shareholdings and shareholder participation.
The most recent analyst rating on (AU:CCV) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on Cash Converters International Limited stock, see the AU:CCV Stock Forecast page.
More about Cash Converters International Limited
Cash Converters International Limited operates in the financial services industry, primarily offering pawn broking, personal finance, and retailing of second-hand goods. The company focuses on markets in Australia, New Zealand, and the United States.
YTD Price Performance: 53.51%
Average Trading Volume: 787,742
Technical Sentiment Signal: Buy
Current Market Cap: A$219.6M
For detailed information about CCV stock, go to TipRanks’ Stock Analysis page.