MNF Group

Canaccord Genuity acts as Lead Manager and Bookrunner to AUD$52.1 million capital raising for MNF Group

Canaccord Genuity Australia is pleased to announce the completion of an institutional placement raising gross proceeds of AUD$52.1 million at AUD$5.00 per share for MNF Group Limited (ASX:MNF) (“MNF” or the “Company”).

Canaccord Genuity acted as Lead Manager and Bookrunner for the transaction, which was heavily oversubscribed and received strong support from both new and existing investors from Australia and the US.

The proceeds of the placement will enable MNF to pay down bank debt and become net cash positive, enabling the Company to accelerate its regional expansion strategy in the near to medium term.

One of the fastest growing telecommunications and technology companies in the Asia-Pacific, MNF develops and operates a global communications network and software suite, enabling some of the world’s leading innovators to deliver new-generation communications solutions. MNF’s core software creates anonymity for providers being contacted through online platforms such as Uber.

The Canaccord Genuity team included Sam Robinson and Nathan Leong from Corporate Finance, and Alex Unsworth and William Morley from Institutional Sales in Sydney, and Nathan Mackay and James Thompson in New York.