Zimi Limited Issues Over 40 Million Shares to Fuel IoT Expansion

The latest update is out from ZIMI Ltd ( (AU:ZMM) ).

Zimi Limited has issued 40,599,717 ordinary shares following shareholder approval at its General Meeting. This move aligns with the company’s strategy to leverage the growing IoT market by expanding its product offerings and exploring global expansion opportunities. The issuance of shares without disclosure under the Corporations Act 2001 suggests a strategic approach to capitalize on market opportunities while maintaining compliance with regulatory requirements.

More about ZIMI Ltd

Zimi Limited (ASX: ZMM) is an Australian technology company that specializes in innovative IoT electrical devices aimed at creating smarter living and working environments. Their product lines, such as Powermesh and Senoa, include smart switches, light dimmers, power points, fan controllers, and garage door controllers. These products are easily managed through Zimi’s home automation app and are distributed through various channels, including wholesale, commercial, retail, and trade, with partners like Trader, Steel-Line, and Beacon Lighting. Zimi is focused on expanding its product offerings and pursuing global expansion opportunities in the growing IoT market.

Average Trading Volume: 129,513

Technical Sentiment Signal: Strong Buy

Current Market Cap: A$4.28M

Learn more about ZMM stock on TipRanks’ Stock Analysis page.