Midway raises $3.15 million from SPP

Company News

by Rachael Jones

Woodfibre company Midway (ASX:MWY) closed the offer period of its share purchase plan announced on 26 September this year at 5.00pm (AEDT) on Friday, 12 October 2018.

Midway offered eligible shareholders in Australia and New Zealand the opportunity to subscribe for up to $15,000 worth of new, fully paid, ordinary shares in Midway, without incurring brokerage or other transaction costs.

At SPP close, valid applications totalling approximately $3.15 million had been received from over 280 shareholders.

Proceeds from the SPP will be used to fund Midway’s investments and growth projects.

Approximately 1 million shares will be issued under the SPP.

Shares in Midway (ASX:MWY) flat at $3.12. 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.