Aroa to raise A$30m of new money in IPO across the Tasman

Wed, 24 Jun 2020

Aroa Biosurgery will raise up to A$30 million in an initial public offering across the Tasman to repay debt and expand its sales and manufacturing capacity. The Auckland-based soft-tissue regeneration company's existing shareholders will also sell another A$15 million of stock into the offer, meaning new investors will end up owning 20 percent of Aroa. Some 40 million new shares and 20 million existing shares will be sold at 75 Australian cents apiece, valuing Aroa at A$225 million. The offer opens on July 1 and closes on July 3, with t...

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