Business
Computershare (ASX:CPU) shares halted after announcing major US$750m acquisition
The Computershare Ltd (ASX: CPU) share price won’t be going anywhere this morning.
This follows the request for a trading halt by the stock transfer company prior to the market open.
Why is the Computershare share price in a trading halt?
Computershare requested a trading halt this morning so that it could undertake a capital raising to partly fund a major new acquisition.
According to the release, the company is aiming to raise $835 million (US$634 million) via an underwritten pro-rata accelerated renounceable entitlement offer with retail rights trading. Management believes this structure will deliver fairness to all eligible shareholders.
Under the entitlement offer, eligible shareholders will be able to subscribe for 1 new…
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