Vonex Limited ( (AU:VN8) ) just unveiled an announcement.
Vonex Limited has announced a non-renounceable entitlement offer to raise approximately $13.9 million, primarily to reduce its existing debt. The offer is priced at a 7.5% discount to the current share price, with major shareholder MaxoTel committing up to $13 million to the offer. Additionally, CEO Ian Porter will depart from the company on 27 February 2025, as the board collaborates with MaxoTel to identify a successor. This financial maneuver is aimed at strengthening Vonex’s balance sheet and enhancing its market position.
More about Vonex Limited
Vonex Limited is a telecommunications innovator that focuses on providing advanced communication solutions. The company is involved in offering services and products that cater to the evolving needs of the telecommunications industry.
YTD Price Performance: -9.09%
Average Trading Volume: 2,307,845
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$15.05M
Learn more about VN8 stock on TipRanks’ Stock Analysis page.