ARTICLE | Financial News

Broadvector files for IPO

September 8, 2010 12:42 AM UTC

Broadvector Ltd. (Melbourne, Australia) plans to raise up to A$8.5 million ($7.8 million) through the sale of up to 42.5 million shares at A$0.20 in an IPO on the Australian Stock Exchange. If sold in full, the company would be valued at A$24.5 million ($22.5 million). Investors also will receive one option to purchase a share at A$0.25 for every four shares purchased. The options expire June 2013. Broadvector expects the deal to close Sept. 30, with the company listing on the ASX Oct. 14. ...