SRG Global’s Oversubscribed SPP Raises $6M

SRG Global Limited (AU:SRG) has released an update.

SRG Global Ltd has successfully completed a Share Purchase Plan (SPP), raising $6 million through the issuance of new shares priced at $0.83, matching the price of a recent placement and without brokerage or transaction costs. The offering was massively oversubscribed with $53.2 million in applications, leading to a pro-rata scale-back to meet the target amount. Issued on September 17, 2024, the new shares will trade on the ASX the following day but will not be entitled to the second-half FY24 dividend.

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