Why the Viva Leisure (ASX:VVA) share price is climbing higher today

The Viva Leisure Ltd (ASX: VVA) share price is back from its trading halt and pushing higher on Monday morning.

At the time of writing, the health club operator’s shares are up 2% to $3.10.

This leaves the Viva Leisure share price trading within sight of its record high of $3.31.

Why was the Viva Leisure share price in a trading halt?

Viva Leisure requested a trading halt late last week so it could undertake a fully underwritten $30 million institutional placement.

This morning the company announced the completion of the institutional placement, raising $30 million at a 4.3% discount of $2.90 per new share. Approximately 10.3 million new Viva Leisure shares are to be issued under the placement.

According to the release, the…