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Capital Raises Weekly Wrap - 19/07/2021

Capital Raising Wrap

Capital Raises Weekly Wrap - 19/07/2021

The past week in capital raising has seen companies from seven different sectors raising to fund their next stages of growth. The mining sector led the way with (ASX:EVN) raising $400m through a fully underwritten institutional placement to fund a variety of acquisitions in Western Australia, along with three other smaller raises. The industrial sector also saw a large raise undertaken by (ASX:SSM) of $130m when combined with two smaller raises brings the industrial sector total to $143m raised. 

The other sectors raised at the smaller end of the market with the finance, consumer, energy, technology, and health sectors combining across six placements to bring in just under $48m.

Placement Overview

*Placements are limited to those which left a trading halt between 19/07 and 23/07.

SelfWealth Limited (ASX:SWF) raised $8.7m via placement with funds to be used to accelerate SelfWealth’s investment in growth strategies. This includes: broadening product offering to include cryptocurrency, upgrading user experience and high-demand features (such as instant payments), and a more aggressive marketing strategy. The issue price of $0.39 represented a 9.3% discount on the last close price of $0.43 and 5.4% discount on the 5-day VWAP of $0.41. 

Digital Wine Ventures Limited (ASX:DW8) raised $7.5m via placement with funds to be used to support the recent acquisition of third party wine logistics company Parton Wine Group. Funds will be applied to recapitalise Parton through clearing outstanding liabilities, repaying debt and funding capital expenditure to improve productivity and profitability. The issue price of $0.065 represents a 28.6% discount on the last close of $0.091 and 21.6% discount on the 30 day VWAP of $0.0829. Evolution Mining Limited (ASX:EVN) raised $400m via a fully underwritten institutional placement to fund the acquisition of the Kundana Operations, a 51% interest in the East Kundana Joint Venture, 100% interest in certain tenements comprising the Carbine Project and a 75% interest in the West Kundana Joint Venture from Northern Star Resources Limited. The issue price of $3.85 represents a 5.4% discount on the last close of $4.07 and 2.5% discount on the 5 day VWAP of $3.95.

Placement Sector Breakdown

For a more detailed look at how the ASX sectors are performing check out: https://www.freshequities.com/ASX/sectors 

90 Days Post Capital Raise Performance

Looking back at how some capital raises have performed 90 day post capital raises, it takes us back to the second week of March.

Top performing:

Worst performing:

Check out our Past Capital Raises page for more information on past transactions.

Fresh Equities connects investors with listed companies raising capital

We provide comprehensive access to listed capital raises for institutional, family office and high net worth investors.

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Copyright © 2021 Fresh Equities. All rights reserved. ACN 619 657 028. CAR: 001267539 of AFSL: 471379.