Metro Performance Glass has announced the successful completion of its pro rata renounceable rights offer, which was oversubscribed.
The rights offer, part of the company's recapitalisation plan, received total applications of $10.7 million, or 120% of the amount sought.
As a result, the top-up placement to Amari Metals Australia will raise $15m, bringing the total capital raised by Metro to $23.9m.
The company said 67% of rights were exercised, and there were approximately $4.7m of applications for the remaining $2.9m of available shares.
Metro Performance Glass said the strong support from eligible shareholders meant that none of the underwriters were called upon to fulfil their commitments.
The new shares offered are expected to be allotted and commence trading on September 19, 2025.
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