By Sheri Kasprzak
New York, May 31 - Finbar International Ltd. concluded a A$12.36 million private placement.
The company issued 15.45 million shares at A$0.80 each to sophisticated and professional investors.
Bell Potter Securities Ltd. was the placement agent.
The proceeds will be used to expand the company's portfolio.
Finbar, based in Perth, Western Australian, is an apartment developer.
| Issuer: | Finbar International Ltd.
|
| Issue: | Stock
|
| Amount: | A$12.36 million
|
| Shares: | 15.45 million
|
| Price: | A$0.80
|
| Warrants: | No
|
| Placement agent: | Bell Potter Securities Ltd.
|
| Settlement date: | May 31
|
| Stock symbol: | Australia: FRI
|
| Stock price: | A$0.88 at close May 31
|
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