Rua Bioscience closes its oversubscribed $20m offer

Mon, 19 Oct 2020

Medicinal cannabis firm Rua Bioscience closed its initial public offering on Friday having raised $20 million after both its priority and broker offers were "well oversubscribed", meaning applications will be scaled for retail investors and a "small number" of New Zealand institutions. Under the terms of the priority offer 10 million shares were available at 50 cents a share to East Coast, Tairāwhiti residents, existing shareholders in Waiapu Investments and other people closely associated with the business. The remaini...

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