Menu launches rights issue launches rights issue

Mobile social networking platform operator (ASX:MKB) has issued a prospectus for a 1-for-5 rights issue to raise up to $2.8 million.

The price of the non-renounceable rights issue has been set at $0.12 per share, said.

The proceeds from the issue will be used as working capital for the company, and to fund possible joint ventures with - and acquisitions of - complementary content providers and specialist mobile marketing businesses.

While it has not been overwritten, directors and several major shareholders have committed to supporting the issue, the company added.

MKB shares are today trading unchanged at $0.080.

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

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags social networkingMOKO.mobiASX:MKB

Show Comments