Avenue Supermarts bags Rp41bn from share sale

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By Jonathan Breen
11 Feb 2020

India’s Avenue Supermarts has raised Rp40.98bn ($575.2m) after sealing its qualified institutional placement above the floor price.

The company, which runs popular Indian supermarket chain DMart, had launched the sale of 20m shares with a floor of Rp1,999.04 per share last week. The price offered a 12.5% discount to the stock’s last close at Rp2,249.30 apiece.

Avenue Supermarts had the option to price the deal ...

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