Business
Why the IOUpay (ASX:IOU) share price is charging higher today
The IOUpay Ltd (ASX: IOU) share price has returned from its trading halt and is charging higher.
The Malaysia-based buy now pay later (BNPL) provider’s shares were up as much as 14% to 80 cents at one stage.
However, the IOUpay share price has now pulled back notably from there and is currently up 3.5% to 72.5 cents.
Why is the IOUpay share price charging higher today?
This morning IOUpay returned from its trading halt following the successful completion of a $50 million placement to sophisticated and institutional investors.
According to the release, 100 million shares were offered to investors at 50 cents per share. This represents a 28.6% discount to its last close price of 70 cents.
Management advised that the placement…
-
General24 hours agoOf saints and sinners | The Spectator Australia
-
Noosa News15 hours agoTully Sugar Mill celebrates 100 years of cane harvesting amid floods and cyclones
-
General24 hours agoChina and Philippines trade blame over latest South China Sea clash
-
General18 hours agoOne person dead after house fire in Melbourne’s south-east