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

2017 BRISBANE TOP COMPANIES REVEALED

WHILE Queensland is regarded as an economy in transition with the winding down of the mining boom, the 2017 top 50...

2017 BRISBANE TOP COMPANIES 1-10

FROM insurance and banking to travel, gambling, retail, property and pizza, these "heavyweights" have ha...

2017 BRISBANE TOP COMPANIES 11-20

RETAIL, property, an airline, cars, real estate, software services, energy, agriculture, veterinary services bathr...

2017 BRISBANE TOP COMPANIES 21-30

JEWELLERS Michael Hill International listed in 2016 with a half-billion dollar market capitalisation and a new CEO...

Related News

FURNITURE DISRUPTOR SET TO SHARE HIS ONE OF A KIND BUSINESS MODEL

IT'S no secret that Australians love homemaking. Their ceaseless quest to create the perfect place to call hom...

WEEDING OUT THE ASX'S BURGEONING CANNABIS TREND: 8 COMPANIES TO WATCH

A NICHE is budding on the ASX in the form of medical cannabis, an industry which has been on the country's rad...

FRESH CLASS ACTION TO REVEAL ANOTHER SIDE OF SLATER AND GORDON DOWNFALL

ACA LAWYERS has issued a formal letter of demand to Andrew Grech (pictured), managing director of Slater and Gordo...

STARSHIPS WERE MEANT TO DELIVER DOMINO'S PIZZA

NICKI Minaj may have been off the mark when she declared 'starships were meant to fly'. However, she m...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter