It’s been a big year for Trilogy International Limited. Not only is the company expected to commence trading on the ASX in the second half of 2016, but it has also this week announced plans to take part in a $50 million capital raising venture to support liquidity and growth.
The $50 million will be made up of a combination of Trilogy raising $20 million through a placement and the company’s largest shareholder The Business Bakery selling $30 million of shares. The Business Bakery will remain the company’s main shareholder following the capital raising, retaining 30 per cent shareholder ownership of Trilogy.
The $50 million will be used to repay debt, giving Trilogy the opportunity to accelerate long-term brand and market development as well as fund acquisition plans.
The capital raising venture comes alongside news the board has approved Trilogy’s intentions to begin trading on the Australian stock exchange. "Given the substantial size of the Australian market and our growing brand presence, Australia is the largest near term opportunity for our business. Concurrently, we are seeing increasing interest from Australian investors,” says Trilogy International CEO Angela Buglass.
“An ASX listing is a logical strategic move for the company, enabling more Australian and foreign investors to invest in Trilogy International and participate in the company's growth, while also increasing our brand profile in Australia.”
