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IPGA announces $2.5m share offer

IPGA announces $2.5m share offer

Property website operator IPGA Limited (ASX:IPP) has announced a non-renounceable share offer to raise around $2.5 million.

The proceeds will be used to expand the company’s HR, marketing and technology capacity as it proceeds with its plan to decentralise its operations, IPGA said.

The company will issue over 21 million new shares, at an issue price of $0.12 per share. Eligible shareholders will be entitled to 2 new shares for every 11 held.

The offer will open on March 16, and close on April 7. IPP shares have today risen 5.3% to $0.200.

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