G8 CONTINUES CHILDCARE EXPANSION

Written on the 3 October 2012

G8 CONTINUES CHILDCARE EXPANSION

G8 Education (ASX: GEM) will seek to raise $11.5 million from existing shareholders to fund its aggressive expansion in the childcare industry.

The Bundall-based company’s capital raising venture announced today will complement the successful placement of 30.79 million shares worth $35.4 million to a private investor last week.

The share purchase plan will allow existing shareholders to invest a maximum of $15,000 at $1.15 per share, a discount on this morning’s market price of $1.335.

GEM has announced the $36.9 million purchase of 21 childcare centres in Victoria and Queensland in the past month and says the capital will be used to fund the expansion plans.

The company has more than 140 centres across Australia.

GEM shares have performed strongly over the past year, increasing in value by more than 150 per cent to today’s price, which rose marginally on today’s news.

Managing director Chris Scott was not available for comment this morning.


Latest News

1700 BRISBANE APARTMENTS NOW MANAGED BY FORTUNE 500 COMPANY JLL

MULTINATIONAL and Fortune 500 company JLL (NYSE: JLL) has expanded its Australian dominance in the property managemen...

HARVEY NORMAN HITS OUT AT 'FALSE NEWS' OF ASIC INVESTIGATION

RETAIL giant Harvey Norman (ASX: HVN) has vehemently rejected reports its accounts are under investigation by ASIC, s...

RARE GOOD NEWS FOR SLATER AND GORDON AS ASIC CLOSES INVESTIGATION

ASIC has cleared Slater and Gordon of deliberately falsifying its accounts after a three-month investigation.

It s...

Q & A WITH FACEBOOK GURU ANDY MCKEON AS HE JOINS AUSTRALIAN SOFTWARE COMPANY LIVETILES

HE was creative director at Apple under the legendary Steve Jobs, and is now a senior Facebook executive. In his n...

Related News

RAY OF HOPE FOR SLATER AND GORDON AS LENDERS STEP IN

EMBATTLED law firm Slater and Gordon (ASX: SGH) has announced to the ASX that it has launched confidential discussion...

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from...

GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

BRICKWORKS Limited (ASX:BKW) chairman Robert Millner says soaring energy prices may force the company to turn to offs...

CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINESE coin continues to dominate Australia's offshore real estate investment market, accounting for almost h...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter