Finexia Financial Secures AU$3.7 Million Investment from Factory Capital; Shares Up 8%
Finexia Financial Group (ASX:FNX) secured Factory Capital as a cornerstone investor via a private placement of shares worth about AU$3.7 million, according to a Tuesday filing with the Australian bourse.
The specialist private credit company will issue 12,460,813 shares at AU$0.30 per share, a 20% premium to the stock's closing price on Monday, the filing stated. Following the issue, Factory Capital is expected to own around 20% of Finexia's shares.
Funds from the placement will be used to further scale Finexia's private credit operations, according to the filing.
Finexia shares rose 8% in recent Tuesday trade.
Price (AUD): $0.27, Change: $+0.020, Percent Change: +8.00%
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