FinTechFunding

Vmoto: Raises $9.6M to speed up growth opportunities

  • Electric scooter manufacturer Vmoto (VMT) has received firm commitments to undertake a $9.6 million placement
  • Strong demand was received for the placement from institutions, as well as strategic, sophisticated and professional investors
  • Vmoto is now in an even stronger position for all its shareholders
  • More than 21 million fully paid ordinary shares will now be issued to strategic, sophisticated and professional investors at 45 cents each
  • Vmoto will use the money to speed-up potential opportunities in the business-to-consumer (B2C) and business-to-business (B2B) electrical two-wheel vehicle markets
  • Vmoto is up 8.57 per cent and shares are trading for 57 cents each at 12:31 pm AEST
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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