Institutional Component of Entitlement Offer

18th Nov 11

Release Date: 18/11/2011 12:00am

Pharmaxis Ltd (ASX: PXS) today announced that it has successfully raised approximately $50 million through the institutional component of its 1 for 3 pro-rata accelerated non-renounceable entitlement offer at $1.05 per share (Institutional Entitlement Offer) announced on 16 November 2011.  

Key points:
• Strong demand in the Institutional Entitlement Offer from existing and new institutional shareholders
• Underwritten amount increased from $40 million to the full Entitlement Offer size of approximately $80 million
• Eligible retail shareholders to participate in the Retail Entitlement Offer, commencing 24 November 2011


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