Australian Stock Exchange-listed Frontier Digital Ventures Ltd (FDV), a leading operator of online classified businesses across emerging markets, has raised A$11.2 million ($8.4 million) through an institutional entitlement offer. It is set to raise an additional A$3.2 million ($2.4 million) via a fully underwritten retail entitlement offer scheduled to open on May 31.
The oversubscribed institutional offer saw new and existing investors buy new fully paid ordinary shares at A$0.65 ($0.48) apiece.
