M2 completes $20m share placement

M2 completes $20m share placement

M2 Telecom has completed a $20 million share placement to institutional shareholders.

The $1.80 per share placement has seen the issuance of 11.1 million new M2 shares, ranked equally with existing shares.

The proceeds will be used to reduce debt and as possible capital to draw on for acquisitions.

M2 said it was particularly interested in acquiring companies with complementary business and customer bases, particularly those focused on the SMB market.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!

Error: Please check your email address.

Tags Share placementM2Telecommunications

Show Comments

Market Place