IkeGPS to raise $20m to fund US growth

IkeGPS to raise $20m to fund US growth
Dan Brunskill
Utility measurement firm IkeGPS will raise almost $20 million of equity after winning one of the largest communications infrastructure companies in the United States as a customer. The capital raising will be made up of an institutional placement of approximately 14 million shares, worth $9.8 million, at 68 cents per share - a 12 percent discount to the 5-day volume weighted average price on the NZX. Existing shareholders will also be given the chance to buy one share, also at 68 cents, for every seven they currently hold. That will raise...

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