X2M Connect Limited (AU:X2M) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
X2M Connect Limited has announced a $2 million entitlement offer to expand into new markets and focus on renewable energy initiatives. The funds will be used to develop the business in Australia, enter the Middle Eastern and Indian markets, and enhance their proprietary IoT platform for utilities. In the Middle East, they have partnered with Dicode Technologies LLC to provide ‘Metering as a Service’ in the UAE, expecting significant EBITDA returns from connected gas meters.
For further insights into AU:X2M stock, check out TipRanks’ Stock Analysis page.