Join our daily newsletter At The Bell to receive exclusive market insights
- Cloud-based solutions company Linius Technologies (LNU) has entered the new week in back-to-back trading halts ahead of a capital raise
- At this stage, it is unknown how much the company is wanting to raise and what the funds will be for
- Linius is currently preparing to launch its personalised basketball TV channels next month which will be catered to basketball fans worldwide
- Additionally, Linius is helping its new client, Grafa, to create a finance and business news app, which is now in the final stages of development
- Linius last traded for 3.3 cents on September 18
Cloud-based solutions company Linius Technologies (LNU) has entered back-to-back trading halts ahead of a capital raise.
At this stage, it is uncertain how much the company is aiming to raise and what the funds will be for.
The double trading halt means Linius shares will be paused until Friday, September 25, or when the company releases more information about the raise.
Last week, Linius updated the market on its client projects. In this update, Linius mentioned numerous clients have been impacted by the COVID-19 pandemic, especially the sporting industry.
The company is gearing up to launch its personalised basketball TV channels next month which will be catered to basketball fans.
Over the globe, basketball is the number two sport and has over 200 countries participating in the game and over 450 million players.
Additonally, Linius is helping its new client, Grafa, to create a finance and business news app, which is in the final stages of development Linius solution is ready for integration.
Company shares last traded for 3.3 cents on September 18.
