ikeGPS Group Limited (NZX:IKE) is conducting an institutional placement and a fully underwritten 1 for 7 accelerated non-renounceable entitlement offer to raise about NZ$19.7 million. The funds will be used to:
- increase the company’s sales, support, and implementation teams to support recent customer wins and a growing sales pipeline;
- provide funding capacity for potential growth opportunities.
The offer will be conducted at a price of NZ$0.68 per New Share.