Ama Group Limited (AU:AMA) has released an update.
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AMA Group Limited has successfully completed the Retail Shortfall Bookbuild, a key phase of its Equity Raising, selling about 564.3 million New Shares at $0.042 each, which were not taken up during the retail entitlement offer. These newly issued shares are scheduled to be allotted and begin normal trading on the ASX in mid-August, with equal standing to existing shares. This move is expected to bolster the company’s financial position, with no proceeds going to shareholders who did not fully exercise their retail entitlements.
For further insights into AU:AMA stock, check out TipRanks’ Stock Analysis page.