Heartland Group Holdings Ltd. (DE:73X) has released an update.
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Heartland Group Holdings Limited has issued 131,949,647 new shares as part of a strategic capital raising initiative through a placement and institutional entitlement offer, aimed at acquiring Alex Corporation Limited and diversifying its investor base. The company has prioritized existing shareholders in the allocation process, ensuring that they receive at least their pro-rata share, while also attracting new institutional investors, particularly from Australia. Additionally, Heartland has allowed current eligible retail shareholders the opportunity to oversubscribe to prevent dilution from the new share issuance.
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