IkeGPS says it has firm allocations for $25M IPO, won't offer existing shares

Thu, 19 Jun 2014

IkeGPS Group, which sells a range of portable measuring devices and counts Jenny Morel's No 8 Ventures among its shareholders, said it has firm allocations from brokers and institutions for the $25 million it aims to raise next month but has abandoned plans to allow existing shareholders to sell into the offer. The company had planned to raised up to $31 million, but the board has now decided existing shareholders won't sell any stock with the offer and instead those holdings will be subject to escrow arrangements. Details would be in a pros...

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