Ansell (ASX: $ANN) completes A$400 million placement for KCPPE acquisition

Ansell Limited (ASX: $ANN) has successfully completed a A$400 million fully underwritten institutional placement of approximately 17.8 million new fully paid ordinary shares to eligible institutional investors at a price of A$22.45 per new share. The proceeds will be used to partially fund the acquisition of 100% of the assets that constitute Kimberly-Clark's Personal Protective Equipment business from Kimberly-Clark Corporation for US$6402 million.

Executive Commentary

Ansell is pleased to announce the successful completion of the A$400 million placement, which received strong interest from both existing and new institutional investors. The proceeds from the placement will be instrumental in partially funding the acquisition of Kimberly-Clark's Personal Protective Equipment business. We are confident that this strategic move will further strengthen our position as a global leader in safety solutions and integrated manufacturer of personal protection equipment for healthcare and industrial workplaces.

Summary

Ansell Limited (ASX: $ANN) has successfully completed a A$400 million placement to fund the acquisition of Kimberly-Clark's Personal Protective Equipment business. The company aims to continue leading the world to a safer future by pursuing new product and service innovations that predict, prevent, and protect against workplace risk while promoting sustainable sourcing and manufacturing. The successful completion of the placement reflects investor confidence in Ansell's strategic initiatives and its commitment to enhancing safety solutions globally. The acquisition is expected to contribute to the company's long-term growth and further solidify its position in the safety solutions market.