Indoor Skydive Australia to outline institutional bookbuild

Written by Proactive Investors

Indoor Skydive Australia (ASX: IDZ) is preparing an update on the institutional component of a proposed capital raising and has been granted an ASX trading halt.

The raising comprises an accelerated, renounceable pro-rata entitlement offer of shares.

The halt will be in place until the open of trade on Monday 23rd September 2013, unless announced earlier.

Indoor Skydive is currently constructing Australia’s only large scale commercial indoor skydiving facility at Penrith, New South Wales, with completion expected in the first quarter of 2014.

This will house one of the largest Vertical Wind Tunnels (VWT) available in the world that can accommodate up to eight professional skydivers, or two amateurs, at a time for training or entertainment.

It had in August reached an alliance agreement with the Australian Parachute Federation Incorporated to support the development of the sport of skydiving within Australia.

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