YPB Group (YPB) has completed an institutional placement of 18.75m shares at A$0.24/share raising A$4.5m. The placement was oversubscribed and brought six new institutions to the register. The company plans to use the net proceeds to accelerate conversion of its business opportunity pipeline into recurring revenues, expand into new markets and enhance its solutions suite through R&D investment. The placement follows an announcement by YPB last week that it expected to breakeven by Q117 and deliver a pre-tax profit of A$5m for FY17.

24 May 2016
Raises A$4.5m via an institutional placement

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Raises A$4.5m via an institutional placement
Codeifai Limited (CDE:ASX) | 0 0 0.0% | Mkt Cap: 34.6m
- Published:
24 May 2016 -
Author:
Finola Burke -
Pages:
2 -
YPB Group (YPB) has completed an institutional placement of 18.75m shares at A$0.24/share raising A$4.5m. The placement was oversubscribed and brought six new institutions to the register. The company plans to use the net proceeds to accelerate conversion of its business opportunity pipeline into recurring revenues, expand into new markets and enhance its solutions suite through R&D investment. The placement follows an announcement by YPB last week that it expected to breakeven by Q117 and deliver a pre-tax profit of A$5m for FY17.