The Canadian miner had its brokers warming up fund managers for a $200 million equity placement on Tuesday evening, Street Talk understands.
Already a subscriber?Dual-listed uranium miner NexGen Energy has upsized its equity raise to $250 million after its brokers Aitken Mount and Canaccord Genuity received strong demand, Street Talk understands.NexGen originally sought $200 million via an equity placement with brokers getting the go-ahead to launch on Tuesday evening. Shares were offered at 12.40¢ per CDI, representing a 4.83 per cent discount to the last close.
Fund manager sources said it was a strategic cash call that would give NexGen a shot at being included in ASX indices and open up its free float. The miner is capitalised at almost $6 billion on the Toronto Stock Exchange, but its local listing sits at just $644 million despite being held by well-known funds such as Argonaut Fund Management and Jeremy Bond’s Terra Capital. Washington H Soul PattisonTuesday’s placement would take NexGen from $C648 million in cash and investments to $C830 million.
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