- Investment company Clime Capital (CAM) has completed its share purchase plan (SPP) and raised $9.9 million
- First announced in mid-February, eligible shareholders were able to apply for up to $30,000 worth of new shares priced at 87 cents
- Additionally, the SPP followed on from an institutional share placement which raised $3.1 million by way of institutional investors
- Clime Capital will use the funds from both the placement and share purchase plan to invest in ASX-listed securities and selective unlisted entities and funds
- Shares are expected to be issued on March 17 and begin trading on the ASX on March 18
- Clime Capital has ended the day 1.14 per cent in the green with shares trading at 89 cents
Investment company Clime Capital (CAM) has completed its share purchase plan (SPP) and raised $9.9 million.
First announced in mid-February, eligible shareholders were able to apply for up to $30,000 worth of new shares priced at 87 cents.
This price represented a 2.2 per cent discount to Clime Capital’s closing price of 89 cents on February 11.
Additionally, the share purchase plan was partially underwritten by Sanlam Private Wealth for $3.1 million.
Furthermore, the SPP followed on from a $3.1 million institutional share placement.
To raise the funds, shares were issued to eligible institutional investors at 87 cents.
Clime Capital will use the funds from both the placement and share purchase plan to invest in ASX-listed securities and selective unlisted entities and funds.
Shares are expected to be issued on March 17 and begin trading on the ASX on March 18.
Clime Capital has ended the day 1.14 per cent in the green with shares trading at 89 cents in a $106.4 million market capital.