Menu set to raise $100M set to raise $100M

Aims to take advantage of value accretive opportunities in the market

Credit: Kogan

Publicly listed online retailer has launched a $100 million placement at an offer of $11.45 per share, with further plans to raise up to $15 million. 

Kogan intends to use the funds towards "future value accretive opportunities that broaden the company’s offering, expand its customer base or enhance its operating model".

The retailer revealed "multiple opportunities are presenting themselves," but the company will only focus on ones that are "value accretive".

“ is committed to making the most in-demand products and services more affordable and accessible. Our long-term strategy has enabled us to thrive in the current challenging environment, and we are now in a better position than ever to take advantage of growth opportunities,” Kogan CEO Ruslan Kogan told shareholders in a statement. 

“Our low cost of doing business and digital expertise have put us in the driver’s seat to capture market share as the retail industry undergoes significant change.”

Canaccord Genuity (Australia) Royal Bank of Canada are acting as joint lead managers and underwriters to the placement. Settlement of the new shares is expected to occur on 16 June with allotment of new shares issues under the placement scheduled for 17 June. 

Kogan said it has been able to drive value from acquired businesses with strong brands such as Dick Smith and Matt Blatt by leveraging its existing systems, processes, supply chains and technology. 

Accordingly the retailer said gross sales grew 103.6 per cent and adjusted earnings before tax increased 219.3 per cent year-on-year across April and May. 

Pro-forma cash position post capital raising is about $158.6 million. 

Follow Us

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags kogan


Show Comments