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Investment Opps

TPG Telecom Ltd Capital Raising Entitlement Offer

18
April
2017
News
Investment Opps, SMSF, Equity, Australian economy

TPG Telecom Limited (ASX: TPM) (TPG) is pleased to announce the successful completion of the institutional component of its 1 for 11.13 accelerated non-renounceable pro-rata entitlement offer.

TPG is seeking to raise a total of $400m under the Entitlement Offer, with proceeds raised used to pay down debt, drawn as needed for capex and spectrum instalment payments.

Major shareholders David Teoh and associates, and Washington H. Soul Pattinson pre-committed $238 million. TPG now has raised or received binding commitments covering approximately $320 million of the total $400 million to be raised.

The Institutional Entitlement Offer raised approximately $81.5 million from subscriptions for new fully-paid ordinary shares in TPG at an Offer Price of $5.25 per New TPG share.

Commencement of the Retail Entitlement Offer

The retail component of the Entitlement Offer seeks to raise approximately $80.5 million through a 1 for 11.13 accelerated non-renounceable pro-rata entitlement offer. The Retail Entitlement Offer is non-renounceable and rights will not be traded on the ASX or otherwise transferable. Eligible shareholders who do not take up their entitlement under the Retail Entitlement Offer in full or in part, will not receive any value in respect of those entitlements not taken up.

Macquarie Capital (Australia) Limited is acting as Sole Underwriter, Sole Bookrunner and Joint Lead Manager. Petra Capital Pty Limited is acting as Joint Lead Manager to the Entitlement Offer.

For further information, please see www.tpg.com.au

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