Kimberley Diamonds Raises $3 Million in Capital
June 26, 16
(IDEX Online News) – ASX-traded Kimberley Diamonds Ltd (KDL) announced that it raised around AUD$4 million ($2.99 million) in capital via the issue of more than 40,000,000 ordinary shares.
The Rights issue closed on March 24, raising more than AUD$451,000 ($337,000) via the entitlement offer to existing shareholders. The remaining moneys were raised by the successful placement of shortfall shares with professional investors.
More than 7,000,000 shortfall shares were issued to Zheijang Huitong Auction Co. Ltd., which by October, had lent KDL AUD$13 million ($9.7 million). The issue to Zheijang was partly in payment of the interest. KDL now owes Zheijang approximately AUD$11.3 million ($8.45 million).