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The company had been aiming to raise up to $23.3 million from its 1 for 1 pro-rata non-renounceable entitlement offer of Tigers Realm shares at A2.6c apiece.
The company received applications for about 593.6 million shares.
The resulting shortfall of 302.2 shares or so under the entitlement offer is being allocated to the underwriters BV Mining Holding, Hante and RDIF Investment Management.
RDIF will need to get FIRB approval to take up its shares.
Foreign Investment Review Board approval of the RDIF Investment mandate requirements is expected to be issued on August 3.
Tigers Realm will convene a general meeting – likely in September – to seek the necessary shareholder approvals for the allocation of the shares to the underwriters where needed.
