YPB Group: Raises $4.5m Via Institutional Placement
Edison | May 24, 2016 09:51AM ET
YPB Group (AX:YPB) has completed an institutional placement of 18.75m shares at A$0.24/share raising A$4.5m. The placement was oversubscribed and brought six new institutions to the register. The company plans to use the net proceeds to accelerate conversion of its business opportunity pipeline into recurring revenues, expand into new markets and enhance its solutions suite through R&D investment. The placement follows an announcement by YPB last week that it expected to breakeven by Q117 and deliver a pre-tax profit of A$5m for FY17.
The A$4.5m share placement was oversubscribed by A$500,000 and was supported by both existing and new shareholders, including six new institutional investors. The issue price of A$0.24/share is 19% lower than the last traded price of A$0.295/share before the company went into trading halt pending the share placement announcement. Settlement of the placement is scheduled for 27 May with allocation and issuing of the new shares expected on 30 May. The placement will increase the ordinary shares on issue by 9.86% to 190.15m shares.
To read the entire report Please click on the pdf File Below
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.