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The Australian Business
SP AusNet today said full-year net profit fell 6.7 per cent to $146.9 million, as it called a $415 million capital raising.
Revenue from continuing operations rose 11 per cent to $1.17 billion, compared with the previous year’s result, SP AusNet said.
The energy infrastructure concern announced a final distribution of 5.927 cents per security.
SP AusNet also announced a capital raising of up to $415 million, and its shares have entered a trading halt.
The utility’s underlying net profit rose 5.4 per cent to $177.2 million, while revenue lifted 10.8 per cent to $1.17 billion.
SP AusNet said it was seeking to raise capital in a one-for-four entitlement offer, at an offer price of 78c per stapled security.
Shares of SP AusNet closed yesterday at 90 cents.
The entitlement offer comprises a fully underwritten $330 million institutional offer and a non-underwritten retail offer of up to $85 million.