Serko sells $8M of new shares to institutional investors, will raise another $1 mln in SPP

Sun, 20 Dec 2015

By Paul McBeth Dec. 21 (BusinessDesk) - Serko, the online travel booking company which has downgraded its earnings guidance twice this year, raised $8 million from institutional investors at a 5 percent premium and will raise $1 million from existing shareholders to help fund a marketing push and product launch. The Auckland-based company sold about 9.5 million shares at 84 cents apiece to new and existing institutional investors, a premium to the 80 cent price the shares were trading at before they were halted for the capital raising, i...

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