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Intelligent Monitoring Group Limited ( (AU:IMB) ) has issued an announcement.
Intelligent Monitoring Group Limited (IMG) has successfully raised approximately $20 million through a placement of 34.5 million new shares to institutional investors. This capital raise, prompted by strong institutional interest, aims to restore the company’s balance sheet gearing to pre-acquisition levels following its recent purchase of Tyco New Zealand and Red Wolf Security. The funds will be used to enhance working capital and support further growth, positioning IMG to expand its footprint in New Zealand and pursue faster organic growth. This strategic move is expected to improve liquidity and market valuation, aligning with IMG’s goal of becoming a leading player in the security and fire services sector.
The most recent analyst rating on (AU:IMB) stock is a Buy with a A$1.00 price target. To see the full list of analyst forecasts on Intelligent Monitoring Group Limited stock, see the AU:IMB Stock Forecast page.
More about Intelligent Monitoring Group Limited
Intelligent Monitoring Group Limited operates in the technical security and fire services industry, focusing on providing advanced monitoring solutions. The company is expanding its market presence, particularly in New Zealand, through strategic acquisitions.
Average Trading Volume: 475,369
Technical Sentiment Signal: Buy
Current Market Cap: A$241.5M
Find detailed analytics on IMB stock on TipRanks’ Stock Analysis page.