Sydney, April 14, 2009 AEST (ABN Newswire) - IBA Health Group Limited (ASX:IBA) has successfully completed its 2 for 7 accelerated non-renounceable entitlement offer, raising a total of approximately A$123.6 million.
The entitlement offer comprised an institutional component, an offer to eligible retail shareholders and a convertible note offer.
The institutional component of the entitlement offer was completed on 12 March 2009 and raised approximately $83.5 million.
The retail component of the entitlement offer closed at 5pm on 6 April 2009 and raised approximately A$32.9. million (from a maximum of approximately A$40.2 million). This included applications for entitlements of approximately A$26.1 million and applications for additional new shares of approximately A$6.6 million. All applications for additional new shares were accepted. Final allocations are subject to a reconciliation and audit process currently being conducted by IBA's share registry.
IBA has also raised A$7.2 million from the 2 for 7 rights offer of convertible notes. IBA Executive Chairman & CEO, Gary Cohen, said: "We are very pleased that our shareholders have overwhelmingly supported our business by backing this capital raising. Having significantly strengthened our balance sheet, and removed the most expensive part of our debt, we are now in a commanding position to take advantage of the growth opportunities open to us as one of the biggest health IT companies in the world."
Allotment of the new shares to be issued under the retail entitlement offer will be completed by Wednesday 15 April 2009. The new shares will commence trading on ASX on Thursday 16 April 2009.
Holding statements will be despatched to participants no later than Thursday 16 April 2009.
For more information please contact the IBA Health Shareholder Information Line on 1300 723 862 (local call cost within Australia) or +61 3 9415 4262 (from outside Australia) at any time from 8:30am to 5:30pm (AEDT) Monday to Friday.
Contact
Howard Edelman
General Counsel and Company Secretary
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