Pacific Edge Completes Over NZ$36 Million Equity Raise; Shares Tumble 5%

MT Newswires Live

06/03

Pacific Edge (NZE:PEB, ASX:PEB) completed its NZ$36.1 million equity raising at NZ$0.17 per share, comprising a NZ$25.4 million placement and an oversubscribed retail offer that drew NZ$46 million in applications, with NZ$10.7 million accepted, according to a Wednesday Australia and New Zealand bourse filing.

The company raised NZ$10.2 million through a share purchase plan and a further NZ$500,000 under placement capacity from the retail proceeds, per the filing.

The company will issue 62.7 million new shares under the retail offer, expected to be allotted and to commence trading on the New Zealand Exchange on Thursday, ranking equally with existing ordinary shares, the filing added.

The company's Kiwi shares tumbled 5% in recent Wednesday trade.

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