EBOS Group (ASX:EBO,NZX: EBO) said it has raised AU$54 million via an oversubscribed retail offer, by issuing about 1.6 million new shares at AU$33.92 per share, to eligible shareholders, according to a Monday filing with the Australian and New Zealand bourses.

The company had initially aimed to raise up to AU$50 million but increased the offer size to accept all valid applications, the filing said.

Settlement is expected on May 13, with trading on the New Zealand stock exchange to begin the same day and the Australian Stock Exchange to begin from May 14.