Ora Banda Mining Limited (ASX:OBM) has completed the Placement and Institutional Entitlement Offer bookbuild for $51.7 million. Commitments received by the company include
- around $40 million for its placement to institutional investors and
- circa $11.7 million for the institutional component of its 1 for 9 accelerated non-renounceable pro-rata entitlement offer
Both, the placement as well as the institutional Entitlement Offer were strongly supported by the shareholders, including existing as well as several new international and domestic investors.
The proceeds from the capital raisin shall be utilised to finance the capital costs and working capital requirements of recommencing production at Davyhurst Project.
At AEST 11:36 AM, OBM was noted in the green zone at $0.260, up by 1.961%.
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