Dorchester raises $4.1 million in placement supported by major shareholders

Fri, 07 Jun 2013

June 7 (BusinessDesk) - Dorchester Pacific has raised $4.1 million in a placement to institutions, with two major shareholders taking up an offer to sell down their own holdings in a secondary pool. At total of 35 million shares were sold at 25 cents apiece to institutional investors, the financial services company said in a statement. That was made up of 16.3 million of new shares issued by Dorchester, 12.5 million sold by Business Bakery and 6.2 million by Matthew Harrison, the head of the EC Credit Control that the company acquired last ye...

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