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Abano completes allotment of shares

Abano Healthcare Group Ltd

Abano Healthcare Group Limited (NZX:ABA.NZ - News) last night completed the allotment of new ordinary shares to shareholders under the Share Purchase Plan (SPP) offer.

The company received strong support for the offer with participation from 2,095 eligible shareholders, representing well over 50% of all shareholders. The SPP, to raise $9.25 million, was oversubscribed by over 250 percent and applications were scaled back on a proportionate basis in accordance with the terms of the SPP offer.

Abano has now completed its $18.5 million capital raising with the funds received to be utilised in the continued growth of our dental and other businesses.