Strong investor interest in transport technology and services company ERoad has seen a raise to its share purchase plan.
The firm is now increasing the size of the plan from $4 million to $6 million of ordinary shares.
A company statement says the decision was to “provide its loyal retail shareholder base with an opportunity to participate”.
ERoad announced last December that it intended to raise at least $18 million of new capital.
The first stage of the capital raising successfully raised $15.5 million through an equity placement to existing and new investors.
The company’s largest shareholder, NMC Investment Trust, offered $5 million of its shares for sale as part of the placement.
The share purchase plan is now open and gives registered investors the chance to buy up to $15,000 of shares with a minimum application amount of $1000.
The price per share will be the lower of a 4.7% discount to the average end of day market price over the five day trading period from February 21 to February 27, 2018, and $3.04 per share.
*Go to eroad.co.nz for more information.
