EROAD Limited is looking to raise approximately NZ$50 million in new capital through an institutional placement and a pro rata accelerated renounceable entitlement offer.
The Equity Raise is fully underwritten.
The announcement includes several documents and contact information for investor and media inquiries.
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The deal is subject to regulatory approvals and commercial conditions.
Every sector of the Australian share market has lost ground.
The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.
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