RCG Corp raises $25m via share placement

March 23, 2015 | The Australian

Sports retailer RCG Corporation has completed a share placement to raise $25 million from institutional investors, which will be used to part fund its recent acquisition of Accent Group.

RCG (RCG) issued shares at $0.70 each, or a 3.4 per cent discount to the volume weighted average price for the five days prior to March 19, when its shares went into a trading halt.

The owner of the Athlete’s Foot retail chain last week acquired New Zealand-based Accent Group in a $200 million deal, effectively doubling its size.

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