Auswide Bank Ltd. (AU:ABA) has released an update.
Auswide Bank Ltd has successfully raised $3 million through a Share Purchase Plan (SPP) as part of a larger $12 million capital raising effort, which includes a fully underwritten placement completed earlier. The SPP saw strong participation with applications exceeding the maximum cap, leading to a proportional scale-back arrangement. Approximately 750,000 new shares will be issued and commence trading mid-September, with proceeds intended to support regulatory capital requirements and growth following the acquisition of Selfco.
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