10th Nov 2014 15:27
LONDON (Alliance News) - Ferrum Crescent Ltd Monday said it has issued under half of the shares available under the rights issue it launched last month.
In a statement, Ferrum Crescent said it has issued 49.1 million new shares of the 253.7 million shares on offer. A further 58.4 million shares were issued to Patersons Securities Ltd, which partially underwrote the offer.
The company had put 253.7 million shares on offer when it announced its rights issue of two new shares for every three existing shares. It had been hoping to raise about AUD2 million before costs.
Ferrum Crescent shares were down 18% at 0.449 pence on Monday.
By Samuel Agini; [email protected]; @samuelagini
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