Superloop

Canaccord Genuity acts as Underwriter and Joint Lead Manager on AUD$92.2 million capital raising for Superloop Limited (ASX:SLC)

Canaccord Genuity Australia is pleased to announce the completion of an underwritten placement and accelerated pro rata non-renounceable entitlement offer raising gross proceeds of AUD$92.2 million for Superloop Limited (“Superloop”, ASX:SLC).   The transaction was strongly supported by both new and existing institutional and sophisticated investors from Australia and internationally.

Superloop is an independent provider of connectivity services designing, constructing and operating fibre optic communications networks throughout the Asia Pacific metro region. Superloop invests in fibre optic telecommunications infrastructure between locations of high interconnection density within markets experiencing significant growth in interconnectivity, including Hong Kong, Singapore, and Australian metro locations.  It also operates a new high capacity undersea fibre optic cable connecting Perth to Singapore.

The proceeds of the equity raising will be used for debt reduction, working capital and for implementation of the next phase of Superloop’s growth strategy.  Superloop's Chairman, Michael Malone said, "Superloop has invested over $256 million in fibre network assets, and continues to make progress in monetising the value of those assets.”

Canaccord Genuity (Australia) Limited acted as Underwriter and Joint Lead Manager for the capital raising. The Canaccord Genuity team included Sam Robinson and David Lenormand from Corporate Finance and Alex Unsworth and Shane Gild from Institutional Sales.