Investors flock to Transfield

The company said the $98 million retail component offer was oversubscribed, with applications received for about $109 million. Applications will be scaled back so the majority of eligible retail shareholders will receive their full application for new shares, which are expected to start trading on January 24. Transfield entered into an agreement to acquire Easternwell for $540 million in cash and $35 million in Transfield shares last month as part of an initiative in delivering the company’s strategy to build on its existing service offering by providing more technical and niche services in targeted end markets.The company will fund the purchase through a combination of debt and equity, including about $271 million in drawn debt under new facilities and raising $294 million through a two-for-nine accelerated non-renounceable entitlement offer.

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