oOh!media Completes $60 million Capital Raising

oOh!media Completes $60 million Capital Raising
B&T Magazine
By B&T Magazine



oOh!media Limited has revealed it has successfully completed an institutional placement to raise $60 million through the issue of approximately 12.6 million new shares (Offer).

The placement price of $4.75 per new share (Offer Price), represents a 2.9 per cent discount to the last close price of $4.89 on Monday, 10 October 2016.

A majority of the proceeds from the Offer will be used to fund the acquisition of Executive Channel Network. The acquisition of ECN adds significant scale to oOh!’s existing CBD offering and expands oOh!’s exposure to a premium CBD audience.

The Offer attracted significant demand from both new and existing domestic and international investors, resulting in the Offer being substantially oversubscribed at the Offer Price.

oOh!’s chief executive Brendon Cook said, “We are very pleased with the strong level of demand for the Offer. This demonstrates support for the acquisition of ECN, our strategy in creating a diversified digital advertising platform that is unmissable and the positive outlook this transaction creates for oOh!’s future.”

Settlement of the Offer is expected on Friday, 14 October 2016, with allotment and commencement of trading of new shares expected on 17 October 2016.

Share Purchase Plan

As announced to the market on Tuesday, 11 October 2016, oOh! is intending to undertake a Share Purchase Plan (SPP) where each eligible shareholder can apply for up to $15,000 of oOh! shares per oOh! shareholder.

Further information in relation to the SPP including the terms and conditions, will be outlined in a separate SPP Booklet which will be dispatched to eligible shareholders.




Please login with linkedin to comment

global brand campaign MYOB sister

Latest News

Sydney Comedy Festival: Taking The City & Social Media By Storm
  • Media

Sydney Comedy Festival: Taking The City & Social Media By Storm

Sydney Comedy Festival 2024 is live and ready to rumble, showing the best of international and homegrown talent at a host of venues around town. As usual, it’s hot on the heels of its big sister, the giant that is the Melbourne International Comedy Festival, picking up some acts as they continue on their own […]

Global Marketers Descend For AANA’s RESET For Growth
  • Advertising

Global Marketers Descend For AANA’s RESET For Growth

The Australian Association of National Advertisers (AANA) has announced the final epic lineup of local and global marketing powerhouses for RESET for Growth 2024. Lead image: Josh Faulks, chief executive officer, AANA  Back in 2000, a woman with no business experience opened her first juice bar in Adelaide. The idea was brilliantly simple: make healthy […]