NVC EXCEEDS TARGET

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.


Get our daily business news

Sign up to our free email news updates.

 
Four time-saving tips for automating your investment portfolio
Partner Content
In today's fast-paced investment landscape, time is a valuable commodity. Fortunately, w...
Etoro
Advertisement

Related Stories

‘Heat of the moment’: The Star’s chair regrets inflammatory texts with CEO

‘Heat of the moment’: The Star’s chair regrets inflammatory texts with CEO

The Star Entertainment Group’s (ASX: SGR) executive chairman ...

Vastly bigger than the Black Summer: 84 million hectares of northern Australia burned in 2023

Vastly bigger than the Black Summer: 84 million hectares of northern Australia burned in 2023

It may come as a surprise to hear 2023 was Australia’s bigges...

Crown retains NSW casino licence after regaining trust of regulator

Crown retains NSW casino licence after regaining trust of regulator

Crown Resorts has regained the trust of the NSW regulator which tod...

Housing disaster to "get quite a lot worse before it gets better", says Deloitte Access Economics

Housing disaster to "get quite a lot worse before it gets better", says Deloitte Access Economics

Deloitte Access Economics is forecasting a "more promising&quo...