$36m for G8 Education acquisitions

We saw today the annoucenment below outlined by The Deal Journal (Wall St Journal). We expect to contribute a large proportion of this growth phase for G8 Education and look forward to working with them.

Childcare center operator G8 Education Ltd. GEM.AU +2.50% is seeking 35 million Australian dollars (US$36.5 million) to bolster its war chest for acquisitions, mainly in Australia, a person familiar with the matter said Monday.

The A$1.45-a-share raising to Australian and offshore institutional investors–led by Petra Capital and Canaccord Genuity–represents an 11.6% discount to the stock’s last-traded price of A$1.64.

Trading in shares of G8 Education were halted early Monday, citing an imminent share placement.

Institutional shareholders with substantial stakes include Perpetual Ltd. PPT.AU -2.14%, Northcape Capital and Paradice Investment Management.