IkeGPS raises $900,000 in institutional placement, still looking at US listing

Sun, 10 Jan 2016

By Paul McBeth Jan. 11 (BusinessDesk) - IkeGPS Group has raised $900,000 from three institutional investors to fund expansion in the US market, where the laser measurement tool developer is considering a secondary listing. The placement came after a foreign institution offered to invest $500,000 and two existing ikeGPS shareholders put up another $400,000, the Wellington-based company said in a statement. The shares were sold at 81 cents apiece, a 15 percent premium to the last traded price of 70 cents, expanding the number of share on i...

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