Catcha Group-backed iCar raises $17.4m through share placement

Catcha Group-backed iCar raises $17.4m through share placement

Asian automotive marketplace iCar Asia Limited announced raising A$23 million ($17.4 million) of new capital through placement of ordinary shares to institutional investors.

The placement has already raised A$17.5 million through the issue of approximately 54.7 million ordinary shares at 32 cents apiece, representing an 11.1 per cent discount to the last closing price of iCar shares on 30 August 2016.

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