Simon Lyons says the Finsure transaction is close to completion. Photo: Attila Csaszar

Goldfields raises $20m

Tuesday, 4 September, 2018 - 15:02

Goldfields Money has tapped investors for $20 million, with its planned merger with mortgage aggregator Finsure nearing completion.

Kalgoorlie-based Goldfields has issued 15.4 million shares at $1.30 each, with Hartleys acting as lead manager to the placement.

The company said the proceeds would be used to support the company’s capital requirements and enable future lending growth.

“The overwhelming support for our largest ever capital raise is a vote of confidence from new and existing Goldfields Money shareholders in support of the Finsure Transaction, which will fast-track our growth,” chief executive Simon Lyons said.

Finsure and Goldfields agreed to a scrip-based merger in January.

Under the deal, Goldfields will issue 40.7 million shares to Finsure shareholders, giving the latter group a 63 per cent stake in the merged business.

“Aside from largely procedural conditions, the Finsure transaction is now only subject to Goldfields Money shareholder approvals to be considered at our general meeting of shareholders this Friday, September 7 2018,” Mr Lyons said.

Shares in Goldfields finished down 0.38 per cent at $1.30 each today.