Moa completes $500k placement, seeks up to $5.25 mln in discounted rights issue

Thu, 24 Jul 2014

By Paul McBeth Jul. 24 (BusinessDesk) - Moa Group, the unprofitable boutique beer maker, raised $500,000 from five institutional investors and plans to raise up to $5.25 million in a discounted rights issue to existing shareholders. The Auckland-based company sold 1.3 million shares to the unnamed investors at 38 cents, a 31 percent discount to the trading price before the announcement, and said it plans to sell up to 15.9 million shares at 33 cents apiece in a one-for-two renounceable rights issue, a 40 percent discount. Existing shareho...

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