An announcement from Vonex Limited ( (AU:VN8) ) is now available.
Vonex Limited has successfully completed the resettlement and reduction of its debt facilities, using proceeds from a recent entitlement offer to repay $13 million of its $23 million debt with Longreach. The remaining balance has been refinanced with a three-year variable interest rate facility from Westpac, which features commercially competitive terms. This financial restructuring is expected to positively impact Vonex’s operational stability and market positioning.
More about Vonex Limited
Vonex Limited is a telecommunications service provider offering mobile, internet, traditional fixed lines, infrastructure solutions, and hosted PBX and VoIP services, primarily to small to medium enterprises. The company also develops new telecommunications technologies, including a cloud-hosted PBX system, and provides wholesale services to internet service providers. Vonex is focused on growth through mergers and acquisitions, targeting profitable IT and telco businesses.
YTD Price Performance: -32.50%
Average Trading Volume: 1,016,626
Technical Sentiment Signal: Buy
Current Market Cap: A$21.83M
Learn more about VN8 stock on TipRanks’ Stock Analysis page.