Electronic payment company e-pay Asia ((ASX:EPY) has announced a 1 for 1 renounceable rights issue to raise nearly $2.6 million.
The rights issue has been fully underwritten by Centurion Portfolio, an entity associated with executive chairman Simon Loh.
It will result in the issue of around 28.5 million new shares at $0.090 per share.
The company said the funds will be used to meet corporate expenses and drive growth plans, and to give it a strengthened financial position to withstand economic uncertainty.
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