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The Sydney-based company today said the placement would help fund its $1.2 billion acquisition of Queensland electricity retailer Powerdirect.
The price of the placement compared to last Friday’s AGL price on an equivalent basis (pre-dividend) was $16.595, a 4.8% discount, and $16.50 ex-dividend.
“This is a very pleasing result indeed especially when considering the scale of this placement, it demonstrates strong support for the stock,” managing director Paul Anthony said.
AGL said it will also undertake a $75 million share purchase plan for retail shareholders.
