IkeGPS raises $5.25 million in share placement at 60 cents a share

Wed, 10 Aug 2016

By Edwin Mitson Aug. 10 (BusinessDesk) - IkeGPS, the laser measurement toolmaker, has placed more than 8 million ordinary shares with institutional and sophisticated investors at 60 cents a share, 13 percent below the previously traded price and almost half the price achieved when it floated on the NZX at $1.10 in 2014. The Wellington-based company placed 8,742,365 shares, raising $5.25 million. Its shares were placed in a halt on Monday but have fallen 7.3 percent since trading resumed this afternoon to 64 cents. In a statement, Ike...

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