Zip Co Ltd. (AU:ZIP) has released an update.
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Zip Co Ltd announced the successful completion of its Share Purchase Plan (SPP), raising A$50 million, exceeding the initial target due to strong shareholder support with applications totaling A$85.1 million. The proceeds from the SPP, which saw a participation rate of about 13% of eligible shareholders, will be used to optimize Zip’s capital structure and support future growth. The new shares issued under the SPP are expected to commence trading on the ASX on August 22, 2024.
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