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Provider: Reuters Investment Profile
Provider: Wright Reports

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Stokes (Australasia) Limited Raises $2Million To Fund Growth

Sunday, 27 Oct 2013 07:30pm EDT 

Stokes (Australasia) Limited announced that it has successfully raised $2 million to fund growth as it nears the completion of restructuring phase. The capital raising was completed via a placement of new shares to institutional and sophisticated investors and was managed by JM Financial Group Limited. A total of 5,750,000 shares were placed at an issue price of $0.35 per new share to raise $2,012,500, which represents approximately 25% of the issued capital. The funds raised will be used to retire debt in the short term and provide the necessary working capital to fund the business through next growth phase with the service and technologies divisions expecting organic growth over the next 12 months. 

Company Quote

-0.01 -2.63%
17 Jul 2014