AFR: Gyms owner Viva Leisure asks investors for equity

Gyms business Viva Leisure is seeking to raise $11.7 million in new equity to help it ride out a tough period.

Stockbroker Petra Capital was lining up investors to back the deal on Wednesday morning.

The raising’s expected to be done at $1.55 a share, which would be a 9.4 per cent discount to the last close.

Funds raised would be used to prop up the company’s balance sheet, and provide room for further acquisitions.

Petra Capital was calling for bids by 4pm on Wednesday.

Source: The Australian Financial Review