- Fintech company Credit Intelligence (CI1) has placed its shares in a trading halt ahead of an upcoming capital raise
- The trading halt is expected to be lifted on or before Friday March 5 when a formal announcement is made regarding the raise
- At this stage, CI1 has not explicitly indicated how much it is seeking from the raise or how it plans to spend the funds
- Prior to the trading halt, Credit Intelligence shares traded at 4.9 cents in a $72.96 million market cap
Fintech company Credit Intelligence (CI1) has placed its shares in a trading halt ahead of an upcoming capital raise.
The company announced to market that its shares would remain in the halt until a formal announcement had been made regarding the raise, which is expected on Friday March 5.
Credit Intelligence says the trading halt is necessary while it undertakes a bookbuild in relation to the capital raising.
The company has not made any explicit mention as to how much it is seeking to raise or how it plans to utilise the funds.
The ASX-lister recently released its half-yearly report, which revealed it had collected a 42 per cent increase in profit on the previous half-year and a positive
cashflow from operations of $504,534.
Looking ahead, Credit Intelligence Managing Director Jimmy Wong said the company had significant resources and energy to develop its recently acquired fintech platform YOZO and debt solutions business Chapter Two.
Prior to the trading halt, Credit Intelligence shares traded at 4.9 cents in a $72.96 million market cap.