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Move's $40m capital raising to reduce high gearing

Jenny Ruth
Thu, 28 Oct 2021

Move's $40m capital raising to reduce high gearing
Chief executive Chris Dunphy said Move will use the funds "very judiciously". (Image: supplied)
Jenny Ruth
Thu, 28 Oct 2021
It appears the Move Logistics $40 million capital raising could have been larger.That's even though the new capital is sizeable compared to its current market capitalisation of $142m."We've been very circumspect about first of all raising the money the business needs and not creating a war chest or doing anything silly," chief executive Chris Dunphy told BusinessDesk.Dunphy laughed when asked whether the merchant bankers had wanted the company to raise more."I'm saying we can use the funds we've raised very judici...

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