Telecommunications infrastructure group Superloop is ready pitch fund managers for a capital injection.
Superloop is expected to launch a $100 million equity raising via stockbrokers Canaccord Genuity and UBS on Monday, with funds raised to help acquire a private broadband business.
Superloop shares went into a trading halt on Monday morning ahead of the raising.
The trading halt notice said Superloop was finalising a material acquisition and capital raising, and requested its shares be taken off the ASX boards until Wednesday.
The group had a $380 million market capitalisation prior to Monday’s raising. Its biggest shareholder is chairman Bevan Slattery, who has a 17.6 per cent stake.