Midway completes $33.7m institutional placement

Company News

by Anna Napoli

Forrestry company, Midway (ASX:MWY) has announced the successful completion of $33.7 million institutional placement.

Midway says placement was strongly supported by existing and new investors and was oversubscribed

A share purchase plan to raise about $3 million will follow the placement offering eligible existing shareholders the opportunity to buy new shares.

Midway says it is now well funded to deliver on growth opportunities for the benefit of all shareholders.

Shares in Midway (ASX:MWY) are trading 1.58 per cent lower at $3.12