FBR Closes Share Purchase Plan; Shares Down 3%

MT Newswires Live11-29

Robotics company FBR (ASX:FBR) closed its share purchase plan (SPP), which allowed eligible shareholders to subscribe for up to AU$30,000 worth of shares at AU$0.038 apiece, to raise AU$8 million, according to a Friday filing with the Australian bourse.

The company received AU$2.3 million in valid shareholder applications, with Bell Potter Securities, the underwriter to the SPP, notified of the shortfall of AU$5.7 million, the filing said.

About 210.5 million new shares are expected to be allotted on Dec. 3, followed by the dispatch of holding statements to shareholders on Dec. 4, according to the filing.

Shares fell nearly 3% in afternoon trade Friday.

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