Shares in Andrew Forrest-backed pores and skin and haircare group BWX have plummeted 39 per cent after it introduced a $23.2 million capital elevating as a buffer in opposition to retail headwinds to return.The elevating will comprise of a $13.5m placement to skilled traders and $9.7m by a one-for-10 entitlement supply.The placement of recent totally paid shares is totally underwritten at 60¢ a share, representing a 48.7 per cent low cost to the closing worth of $1.17 final Thursday earlier than it entered a trading halt..BWX — which owns Sukin, Andalou, Mineral Fusion USPA and Nourished Life — was trading at 71¢ simply earlier than 9am on Tuesday.The trading halt got here simply days after Mr Forrest’s personal funding arm Tattarang emerged with a 17 per cent curiosity.Shares within the firm have plunged this yr from $4.39 in January, dropping its market capitalisation to $188.2m.
https://thewest.com.au/enterprise/beauty-group-bwx-announces-233-million-capital-raise-after-trading-halt-c-7323172
