NVC EXCEEDS TARGET

Written on the 4 August 2015

NVC EXCEEDS TARGET NATIONAL Veterinary Care (ASX: NVL) has closed its IPO well oversubscribed, with plans to acquire 35 clinics with funds raised. 

The company raised $30 million after accepting applications for 30 million shares at $1 each.

NVC chair Susan Forrester (pictured) says the offering was 'several times oversubscribed'.

"The offering was several times oversubscribed and we thank investors for their overwhelming support and this strong vote of confidence in NVC," says Forrester.

"I encourage institutional and retail investors to continue their support for the business once the shares commence trading on the ASX from 11 August 2015, to take advantage of the consolidation and growth opportunities that exist in the veterinary services sector."

The majority of the funds raised in the IPO will be used to acquire 35 veterinary clinics, including 32 general practice veterinary clinics and three associated veterinary service businesses.

After listing on the ASX, NVC will be the second largest provider of professional veterinary services in Australia and will be well positioned to take advantage of further growth in this industry.

The IPO was fully underwritten by Shaw and Partners Corporate Finance and Wilson HTM Corporate Finance.



Latest News

BELLAMY'S FINDS EXPORTING BABY FORMULA INTO CHINA IS NO CHILD'S PLAY

BELLAMY'S (ASX: BAL) shares have suffered a 40 per cent drop in value today after the company hit a regulatory...

BRISBANE WATCH BRAND ADINA AIMS FOR ICONIC

ADINA watches is at a turning point in its history, 45 years after being founded by Robert 'Bob' Menzies i...

WHY YOU SHOULD CARE FOR YOUR BODY AS MUCH AS YOUR BUSINESS

ENTREPRENEURSHIP is a busy business. It can be all-consuming, but it is important not to neglect your health Y...

BULLETS BACK IN THE BUSINESS COMMUNITY

ALTHOUGH new to the current south-east Queensland sporting landscape, the Brisbane Bullets have a rich basketball ...

Related News

JB HI-FI IS THE GOOD GUY IN $870 MILLION ACQUISITION

ELECTRONICS giant JB Hi-Fi has formally completed its $870 million acquisition of home appliance chain The Good Gu...

ACCC ACTS AGAINST MERITON'S RIGGED REVIEWS

MERITON Property Services is under fire from Australia's main consumer watchdog, after it allegedly engaged in mi...

ACCC FIRES WARNING SHOT TO IVF PROVIDERS

IVF clinics have been put on notice by consumer watchdog, the Australian Competition and Consumer Commission (ACCC...

BIG W CEO QUITS AFTER 11 MONTHS

SALLY MacDonald has resigned as chief executive of BIG W ending her tenure at the helm of the struggling discount ...

Contact us

Email News Update Sign Up Contact Details

Subscribe to our mailing list

* indicates required
Email Format

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter