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AUSTRALIA'S AVEXA IDENTIFIES OVER-ALLOCATION IN RIGHTS ISSUE.
SYDNEY, May 1 Asia Pulse - Melbourne biotech Avexa Ltd (ASX:AVX) says it has identified an over-allocation of 8.2 million shares to existing shareholders as part of its $A60 million ($US49.73 million) rights issue.
In April, the company announced that its capital raising had been over-subscribed by $28.8 million in applications.
But Avexa today said the over-allocation of the 8.2 million shares had given it latitude to accommodate a greater proportion of existing shareholder ...
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Source: HighBeam Research, AUSTRALIA'S AVEXA IDENTIFIES OVER-ALLOCATION IN RIGHTS ISSUE.