Serko to raise $15M at 3.2% discount to accelerate growth, mulls acquisitions

By Paul McBeth
Aug. 7 (BusinessDesk) - Serko plans to raise $15 million selling shares at a 3.2 percent discount to institutional investors to speed up its growth trajectory having already raised revenue guidance.
The Auckland-based online travel booking software developer will sell 5.5 million shares, or about 7.3 percent of the company, at $2.75 apiece to investors in a fully underwritten placement, it said in a statement. The funds raised will go towards bolstering working capital, which it said will give it more flexibility to speed...
Subscribe to BusinessDesk
Stay informed on business, government and financial developments across New Zealand.
- Deeply researched, twice-edited and fact-checked news
- Annual subscribers also receive a complimentary subscription to The Wall Street Journal
- Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers
You can cancel anytime with two clicks, an email or a phone call.
Find out
more.
We are serious about journalism.
Yearly - (Save $179 compared to monthly)
$349.00
Monthly
$44.00
All subscriptions auto renew but are easy to cancel.
Not convinced yet?
Subscribe to our free 7am Headlines newsletter.
A quick summary of everything BusinessDesk has published in the previous 24 hours. No BusinessDesk
subscription needed.