METS

Boart jumps as recapitalisation moves ahead

BOART Longyear has launched a $A103.4 million rights issue and a $24.5 million share buyback following shareholder approval of a recapitalisation plan with distressed debt firm Centerbridge Partners.

Andrew Duffy
Boart jumps as recapitalisation moves ahead

The renounceable rights issue will offer 0.97 shares for each share held, with new stock offered at 16.5c each. The price represents a 3.5% premium to yesterday’s close and a 9.7% discount to the one...

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