Aussie Broadband Raises $20m in over-subscribed share purchase plan
- Aussie Broadband (ABB) raises $20 million through a share purchase plan, double what it originally planned
- ABB reserved the right to accept over-subscriptions and, due to high demand, decided to accept a total of $20 million
- The funds from the share purchase plan are in addition to the $114 million raised through an institutional placement
- A significant scale back is required and will be undertaken on a pro rata basis
- Managing Director Phillip Britt acknowledges that the level of scale back will be disappointing for shareholders despite doubling the size of the SPP
- Shares are trading 1.22 per cent higher at $4.97 at 1:18 pm AEST
