Touchcorp Ltd
(ASX:TCH) has raised $25.6 million by issuing 12.8 million ordinary shares. The price of each share is $2.00.
The business technology company says the share placement was oversubscribed – and was taken up by its existing institutional shareholders, as well as new high net worth investors.
The company says the funds will provided it with capital to execute its growth objectives and strategic initiatives over the near term.
Touchcorp is expecting its institutional placement to settle on 6 October.
Touchcorp posted a net profit of $9.9 million at 30 June 2016.
