We are pleased to share Wellnex Life (ASX:WNX), owner and developer of some of Australia's leading health brands, has recently published a key ASX announcement.
London Stock Exchange: Placement completed with UK investor participation to progress London Stock Exchange (LSE) dual listing.
Announcement Highlights
- A$2 million raised by Wellnex Life via a placement with UK investors participating.
- Wellnex Life well advanced on a dual listing on the main board of the London Stock Exchange.
Wellnex Life (ASX: WNX) is pleased to provide an update on the proposed dual listing of Wellnex Life on the Main Board of the London Stock Exchange (LSE).
Wellnex Life has successfully raised approximately A$2 million in a placement involving UK based brokers and high net worth investors, via the issue of 73,781,290 fully paid ordinary shares (effective price A$0.028 per share). These funds, along with IPO proceeds received once the company is listed on the LSE, will be used to retire all outstanding debts of the company, as well as to provide working capital in order to fund international expansion. The extinguishing of the debt will save the company $1.4 million annually in interest and associated costs, as well as significantly strengthening Wellnex Life's balance sheet.
Wellnex Life CEO George Karafotias commented:
"The strong support demonstrated from UK investors in the completed placement, validates the direction that the company is headed. The progress made, as well as the interest generated by the proposed dual listing of Wellnex Life on the Main Board of the London Stock Exchange, has given the company confidence that it is on the right path forward."
Read the full Wellnex Life announcement here.
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