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Freshtel closes rights issue undersubscribed

Freshtel closes rights issue undersubscribed

VoIP company Freshtel Holdings (ASX:FTH) has revealed it raised only around $1 million from its recent renounceable rights issue, not the $1.6 million initially planned.

Eligible shareholders only applied for around 65% of the rights issue, which closed on 25th of may, Freshtel said.

The new shares should be dispatched by shareholders in June 2nd, and commence trading on June 3.

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Tags rights issueFreshtelcapital raisingTelecommunications

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