TeamTalk plans placement, rights offer to raise $8.7M

Mon, 22 Oct 2018

By Gavin Evans Oct. 23 (BusinessDesk) - Telecommunications provider TeamTalk is planning to raise up to $8.7 million to help fund the expansion of its digital radio network and the upgrade of its Wellington fibre business. The company will raise $2 million through a placement of 2.7 million shares at 75 cents each to selected institutions and investors. It will also raise about $6.7 million through a one-for-three renounceable rights offer creating about 10.3 million new shares at 65 cents a share. TeamTalk shares closed last week at 8...

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