ERoad underwriters emerging

ERoad's technology offers truck fleet management tools. (Image: Supplied)

Thu, 05 Oct 2023

Substantial security holder notices are beginning to identify the sub-underwriters who took up unclaimed shares in telematics firm ERoad’s $50 million capital raising last month.The unexpected $50m raise was successful despite weak retail shareholder support and the non-participation of its two largest shareholders, accounting for about 30% of the register prior to seeking the additional equity.In a filing to the New Zealand stock exchange on Thursday, Sydney-based Regal Funds Management disclosed it now owns almost 10% of ERoad – 9...

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