Bapcor opens $43m retail share offer at 65% discount to cut debt
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The news: Car parts retail group Bapcor has opened a retail entitlement offer to raise about $43 million. This follows a $157 million institutional placement completed at the end of February.
The numbers: The new shares will be offered at 60 cents each, a 65% discount to the close price on 18 February 2026, before the company entered a trading halt ahead of its half-year results.
Eligible shareholders are entitled to one new share per 1.36 shares they hold.
The context: The proceeds of the retail and institutional capital raises will be used to reduce Bapcor’s debt and to “enhance financial flexibility and provide headroom to focus on ‘getting the engine running’ and improving financial returns”, Bapcor chair Lachlan Edwards said in a letter to shareholders.
In late February, Bapcor reported a $104.8 million net loss in the first half of FY26 as it faced lower revenue and higher costs. Net debt was $387.3 million as at the end of the first half.
The retail offer will close on 19 March.
The source: ASX
