Business
City Chic eyes off fresh US acquisition with $90 million raise – Sydney Morning Herald
Plus-sized fashion retailer City Chic Collective will look to raise $90 million from its shareholders to acquire the online assets of collapsed US retailer Catherines.
To help fund the acquisition, along with bolstering City Chic’s balance sheet, the company will look to raise $80 million from institutional investors at $3.05 per share, a 4.7 per cent discount to its $3.20 closing price on Thursday. A further $10 million will be raised from retail investors via a share purchase plan.
City Chic also revealed its preliminary full-year results, with underlying earnings before interest, tax, depreciation and amortisation up 6.4 per cent to $26.5 million and total…
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