Moa raises $5.25 million in over subscribed rights offer

Mon, 25 Aug 2014

By Suze Metherell Aug. 25 (BusinessDesk) - Moa Group, the unprofitable boutique brewer, raised $5.25 million in an oversubscribed discounted rights issue to shareholders to fund further growth plans. The Auckland-based company sold 15.92 million new shares, at a ratio of one for every two shares already held, at an issue price of 33 cents, a 5 cent discount to its current share price of 38 cents, it said in a statement. The offer was 4.9 percent oversubscribed, meaning applicants for over-subscription will be scaled to receive about 70 pe...

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