Perth based apartment developer Finbar International has raised $12.36 million.
The company has successfully placed out 15,450,000 shares with professional and sophisticated investors at an issue price of $0.80 per share as arranged by Bell Potter Securities in Melbourne.
Finbar’s managing director John Chan said the funds from the capital raising would be used for working capital and to actively seek additional development opportunities to supplement the company’s growing development portfolio.
By Kathryn O’Meara
