Perth’s Paladin Energy raising $575m to develop Patterson Lake South project in Canada

Detailed summary

Perth-headquartered uranium producer Paladin Energy has pulled the trigger on a huge capital raising to develop its $1.8 billion project in Canada.

Perth-headquartered uranium producer Paladin Energy pulled the trigger on a huge capital raising to develop its $1.8 billion project in Canada. The dual-listed Paladin tapped institutional investors on the ASX to the tune of $474 million and a $51m private placement on the Toronto Stock Exchange — both fully underwritten — for a total of $525m. Paladin’s ASX retail shareholders will also be able to take part, via a share placement up to $50m on the same terms as the ASX institutional offer. The offer price of $7.80 a share is about a 10 per cent discount to its last close of $8.70.

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