Join our daily newsletter At The Bell to receive exclusive market insights
- Retail analytics and intelligence solutions company Frugl (FGL) is set to undertake a share purchase plan (SPP) to raise $1.08 million
- Under the plan, eligible shareholders will be able to apply for up to $30,000 worth of shares which will be priced at two cents
- Frugl will use the money to market its Frugl Grocery mobile comparison and wellness app and commercialise the InFocus Analytics retail intelligence SaaS platform
- The Frugl Grocery app allows users to compare the cost of products between supermarkets such as Coles and Woolworths to create a store-specific shopping list
- Frugl ends the day 15.4 per cent in the red with shares trading at 2.2 cents
Retail analytics and intelligence solutions company Frugl (FGL) is set to undertake a share purchase plan (SPP) to raise $1.08 million.
Under the plan, eligible shareholders will be able to apply for up to $30,000 worth of shares which will be priced at two cents.
This price represents a 20 per cent discount to the five-day volume-weighted average price.
The plan will open on February 8 and close on February 18 with shares to be issued on February 24 and begin trading on the ASX on February 25.
Frugl Directors intend to participate in the SPP in relation to their eligible shareholdings.
Frugl will use the money to market its Frugl Grocery mobile comparison and wellness app and commercialise the InFocus Analytics retail intelligence software-as-a-service platform.
The Frugl Grocery app allows users to compare the cost of products between supermarkets such as Coles and Woolworths to create a store-specific shopping list.
It analyses consumer behaviour in real-time and evaluates shifts in product merchandising and price changes across more than 60,000 different products.
Users can narrow their search based on dietary requirements, allergies, store and additives. Users can also search using the bullseye feature which allows them to find similar and more relevant products based on previous searches and purchases.
Frugl has ended the day 15.4 per cent in the red with shares trading at 2.2 cents in a $4.68 million market cap.
