Property website operator IPGA Limited (ASX:IPP) has completed a placement of $2.5 million worth of shares.
The proceeds from the placement at $0.31 per share will be used to replenish the company's working capital reserves.
IPGA major shareholder Catcha Media has revealed it has agreed to sell an extra $1.5 million worth of shares at the placement price, as a result of the strong demand from investors.
IPP shares are today trading 1.43% higher at $0.355.
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