Cash-strapped Zoono seeks A$2.1m from rights issue

Hand and surface sanitisers were in demand during the pandemic. (Image: Getty)

Mon, 01 May 2023

After continuing to burn cash and as its revenue plunges, Zoono Group plans to raise A$2.1 million (NZ$2.2m) through a pro-rata rights issue with free options to fund projects, a joint venture with Douglas Pharmaceuticals, China expansion and working capital. The Australian stock exchange-listed New Zealand manufacturer of antimicrobial hand and surface sanitisers announced the share offer in tandem with the release of its March 31 third-quarter report.The report details a dire future for the company unless it changes direction away from e...

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