Bapcor raises $157m through institutional placement
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The news: Car parts retail group Bapcor has raised gross proceeds of $157 million through the take up of its ‘pro rata’ placement and institutional entitlement offer.
The numbers: Announced on Thursday as part of a broader $200 million raise, the shares were issued at an offer price of 60 cents each, a 65% discount to the last traded price of $1.715 on Wednesday.
Bapcor said that eligibile institutional shareholders elected to take up 94% of their entitlements under the offer.
The context: Bapcor expects to raise a further $43 million in the retail component of the entitlement offer.
On Thursday, Bapcor reported a $104.8 million net loss in the first half of FY26 amid lower revenue and higher costs.
The source: ASX
