IkeGPS to raise $20m to fund US growth

Tue, 28 Jul 2020

Utility measurement firm IkeGPS will raise almost $20 million of equity after winning one of the largest communications infrastructure companies in the United States as a customer. The capital raising will be made up of an institutional placement of approximately 14 million shares, worth $9.8 million, at 68 cents per share - a 12 percent discount to the 5-day volume weighted average price on the NZX. Existing shareholders will also be given the chance to buy one share, also at 68 cents, for every seven they currently hold. That will raise...

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Markets

Another solar farm gets the nod from Genesis

Genesis Energy has approved the construction of the Edgecumbe Solar Farm in the Bay of Plenty, marking its second major solar commitment in as many months.The company made a final investment decision (FID) on the 136 megawatt peak (MWp) farm, clearing the way for work to begin sh...

Ian Llewellyn 9:40am

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