Appen share purchase plan oversubscribed

Company News

by Anna Napoli

Appen (ASX:APX) has announced the successful completion of its share purchase plan offer.

The offer was heavily supported by eligible shareholders and the Company will scale back applications to match the $15 million that it sought to raise via the Offer.

The new shares will be issued at $21.50 per share to eligible applicants on Wednesday(, 10 April 2019.)

Appen says the Offer was about 3.4 times over-subscribed and that each eligible applicant will receive new shares to the value of approximately 29 per cent of their subscription monies.

Shares in Appen (ASX:APX) are trading 0.8 per cent higher at $22.74.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.