The Athlete’s Foot-owner RCG Corporation is seeking to raise $50 million in an institutional placement through Bell Potter Securities.
The company went into a trading halt on Wednesday morning as its brokers went about finding investor support.
The placement would see 30.3 to 33.3 million new shares issued at $1.50 to $1.65 a share.
The offer was priced at at up to a 9.1 per cent discount to the last closing price of $1.65. The brokers were seeking bids in 2¢ increments from the floor price.