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RCG Corp seeks $50 million equity, $40m vendor selldown

February 24, 2016 | Australian Financial Review

The Athlete’s Foot-owner RCG Corporation is seeking to raise $50 million in an institutional placement through Bell Potter Securities.

The company went into a trading halt on Wednesday morning as its brokers went about finding investor support.

The placement would see 30.3 to 33.3 million new shares issued at $1.50 to $1.65 a share.

The offer was priced at at up to a 9.1 per cent discount to the last closing price of $1.65. The brokers were seeking bids in 2¢ increments from the floor price.

 The placement was accompanied by a vendor selldown which would see another 26.9 million shares up for grabs.

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