Powerhouse has no current plans to raise additional capital

Sun, 26 Nov 2017

By Rebecca Howard Nov. 27 (BusinessDesk) - Christchurch-based technology incubator Powerhouse Ventures has no plans to raise additional capital at the current depressed share price and will focus on its New Zealand operating strengths and expansion in Australia. Powerhouse went public in an A$10.2 million initial public offering last year selling shares at A$1.07 apiece. It traded at 34 Australian cents on the ASX last week, hurt by an unsettled year for the management and governance of the company, including a new chair and chief execut...

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