Reject Shop’s $40M capital to fund new stores

 In Australia, NewZealand
The Reject Shop has requested for a trading halt with hopes to raise n$40 million in new capital that will help fund for the discount chain’s nplan to roll-out 40 more new stores in FY2014.

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n The $40 million equity raising has been structured as a $30 million nplacement underwritten by Macquarie Capital and a non-underwritten sharen purchase plan to raise the additional $10 million.

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n Managing director Chris Bryce said the overall trading has been solid nwith continued positive comparable store sales for the half year, which nprovides them confidence for potential future stores. Inside Retail – Read More.

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