- Australian-Fijian health and wellness company FijiKava (FIJ) raises more than $2.67 million via its share purchase plan (SPP)
- The company received subscriptions from 205 shareholders for more than 33.48 million shares which were priced at 8 cents each
- A few weeks ago, FijiKava announced it was aiming to raise up to $3.5 million under the plan to increase operational capacity at its Fiji facility and for US operations
- Shares are expected to be allocated on December 1
- FijiKava is down 3.23 per cent on the market with shares trading at 9 cents
Australian-Fijian health and wellness company FijiKava (FIJ) has raised $2,679,000 via its share purchase plan (SPP).
The company received subscriptions from 205 shareholders for ore than 33.48 million shares priced at 8 cents each.
On November 9, FijiKava announced it was aiming to raise up to $3.5 million under the plan to increase operational capacity at its Fiji facility and for US operations.
Eligible shareholders were able to subscribe for up to $30,000 worth of fully-paid shares with company directors confirming they would take part.
Shares are expected to be allocated on December 1.
“We felt the time was right to offer our existing shareholders this investment opportunity as the company approaches a number of key inflection points,” CEO Dr Anthony Noble said.
“The strong response to this offer from a large number of our shareholders underlines their support for our strategy to enter the USA in 2022 with our organisation and reflects a willingness to invest in the operational scale-up we are undertaking to Fiji to support future growth.”
FijiKava was down 3.23 per cent on the market with shares trading at 9 cents at 2:45 pm AEDT.