Vonex Limited ( (AU:VN8) ) has provided an announcement.
Vonex Limited announced the results of its pro-rata non-renounceable entitlement offer, achieving an 81% take-up with $11.2 million in new shares accepted. The offer was partially underwritten by Maxo Telecommunications Pty Ltd, Vonex’s largest shareholder, which will subscribe for 72,822,873 new shares, contributing approximately $2.7 million. The successful capital raising is expected to support Vonex’s growth strategies in the telecommunications industry, enhancing its operational capabilities and market position.
More about Vonex Limited
Vonex is an award-winning telecommunications service provider specializing in mobile, internet, traditional fixed lines, infrastructure solutions, and hosted PBX and VoIP services. The company primarily serves small to medium enterprises and is also involved in developing new telecommunications technologies. It offers wholesale services to internet service providers and is focused on strategic mergers and acquisitions to expand its product offerings and market reach.
YTD Price Performance: -7.50%
Average Trading Volume: 2,216,543
Technical Sentiment Consensus Rating: Hold
Current Market Cap: A$27.85M
For an in-depth examination of VN8 stock, go to TipRanks’ Stock Analysis page.