ikeGPS Group Opens Share Purchase Plan to Raise About AU$2 Million

MT Newswires Live

07/16

ikeGPS Group (ASX:IKE, NZE:IKE) opened a share purchase plan to raise around AU$2 million, in which eligible shareholders will be able to apply for up to AU$30,000 worth of new fully-paid ordinary shares at AU$0.81 per new share, according to a Wednesday filing with the Australian and New Zealand bourses.

The share purchase plan will close on Aug. 7, the filing said.

Funds raised will support new product development, sales and marketing, and general working capital, the filing added.

The company's New Zealand shares were up nearly 2% in recent Wednesday trade.

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