Orbital Corporation Limited (AU:OEC) has released an update.
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Orbital Corporation Ltd successfully closed its renounceable entitlement offer, raising A$1.24 million as shareholders snapped up 61.7% of the available shares. The offer, fully underwritten by UIL Limited and Boneyard Investments Pty Ltd, saw major shareholders and directors taking up their full entitlements. New shares are set to be issued shortly, promising equal standing with existing ones.
For further insights into AU:OEC stock, check out TipRanks’ Stock Analysis page.