MANAGEMENT

Terracom completes raising with shortfall

TERRACOM has raised $20.28 million through a rights issue of 34.97 million shares for expansion and development opportunities but the entitlement offer fell short of expectations and the underwriter has been asked to make good the shortfall of 25.97 million shares.

Terracom completes raising with shortfall

Terracom chairman Wal King said the funds raised would also significantly reduce the company's cost of debt and provide leverage in the final negotiation of refinancing existing debt.   "The entitlement...

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