CORRECT: Powerhouse seeks up to A$20 mln in ASX listing to fund new investments

Tue, 02 Aug 2016

(Fixes pre-IPO capital raise in 4th paragraph) By Paul McBeth Aug. 3 (BusinessDesk) - Powerhouse Ventures, the Christchurch-based technology incubator, plans to raise up to A$20 million in an initial public offering on the Australian Securities Exchange to expand its portfolio of investments, including branching out across the Tasman. The incubator will sell shares at A$1.07 apiece in an offer that opens on Aug. 17, raising A$10 million to A$20 million and valuing the company between A$30.8 million and A$40.8 million, according to its...

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