- Cloud network solutions business Netlinkz (NET) has started the week in a trading halt ahead of an upcoming capital raise
- Currently, there is no information about how much it is aiming to raise and what the funds will be used for
- Company shares will be paused until Wednesday, December 16, or until the raise is released to the market
- Earlier this month, Netlinkz signed an Asian distribution deal with LNS International
- The agreement is expected to generate
- Netlinkz last traded for 7.1 cents per share on December 11
Netlinkz (NET) has started the week in a trading ahead as it plans a capital raise.
So far, there is no information on how much the company is aiming to raise or where the funds will be spent.
Company shares will be paused until Wednesday, December 16, or when more details about the raise is released to the market.
Earlier this month, Netlinkz signed an Asian distribution deal with LNS International.
Under the deal, LNS will provide the system integration skills, local presence, consulting and local industry knowledge, while Netlinkz will provide its cloud-based Virtual Secure Network technology.
Revenue from the agreement is expected to come from both government tenders in the ASEAN region, existing LNS customers and new businesses.
Additionally, Netlinkz is expecting to beat its previously announced guidance for CY20 of $15.3 million, with around $17 million in customer receipts.
Netlinkz shares last traded for 7.1 cents per share on December 11.