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Comms Group Ltd. (Australia) ( (AU:CCG) ) has issued an announcement.
Comms Group Ltd. has successfully completed its 1 for 9 non-renounceable entitlement offer, raising approximately $0.65 million from eligible shareholders, with a total of 43.4 million new shares to be issued. The remaining shares not taken up by shareholders will be allocated to sub-underwriters. This capital raising effort is expected to bolster the company’s financial position and support its strategic initiatives in the cloud communications and IT solutions market.
More about Comms Group Ltd. (Australia)
Comms Group Ltd. is a provider of advanced cloud-based communications and IT solutions, specializing in secure modern workplace solutions, managed services, cloud hosting, and unified communications as a service (UCaaS). The company caters to Australian SMEs and corporates with offerings such as Microsoft Teams Calling, cloud business phone services, and extensive connectivity solutions. It also supports international businesses with global unified communications solutions.
Average Trading Volume: 388,625
Technical Sentiment Signal: Sell
Current Market Cap: A$26.51M
See more insights into CCG stock on TipRanks’ Stock Analysis page.