AUB Group raises $10.6M for UK expansion

AUB Group (ASX:AUB) has finalised its share purchase plan, raising approximately $10.6 million to support its ongoing expansion.

The plan, which concluded on Feb. 26, saw participation from 768 eligible shareholders following a larger $400 million institutional placement earlier in the year.

Under the terms of the offer, roughly 0.45 million new ordinary shares were issued at $23.62 per share, representing a 2% discount to the five-day volume-weighted average price.

CEO Mike Emmett highlighted that the capital injection, alongside the recent Prestige acquisition, is a pivotal step in accelerating the company's retail strategy in the UK.

The new shares are scheduled to commence trading on the ASX on March 6.