Domino’s Australian franchise said it would issue new shares at a price of A$65.05 per share, a 2% discount from the stock’s last close on November 30.
In November, the company received a notice of exercise of options from Domino’s Pizza Group Plc, calling for the purchase of all its shares in the German joint venture.
The joint venture is two-thirds owned by the Australian company, while the rest is owned by London-listed Domino’s Pizza Group.
Any funds remaining after the purchase will be used to pay down debt, Domino’s Pizza Enterprises said.
The fundraising announcement came a month after the company said inflationary headwinds would continue through 2023, driven primarily by rising commodity prices, rising gas in Europe and rising labor costs in some markets.
($1 = 1.4736 Australian dollars)
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