This company has just announced a capital raise
Senetas Corporation Ltd (ASX:SEN) has successfully completed a share placement to institutional and sophisticated investors to raise A$5m. The funds raised will primarily be used to support additional investment in Senetas’ majority owned subsidiary company, Votiro Cybersec Global Pty Ltd.
When an ASX-listed company announces a capital raising, it generally means it is selling more shares to raise money.
More often than not, the shares are sold at a discount to the company’s share price at the time to entice new and existing investors.
Shares of Senetas Corporation Ltd traded down 9.09% following the announcement to $0.04/share.
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