CML Group (ASX:CGR) has completed a placement
CML Group (ASX:CGR) has completed a US$2.5 million placement. The raise was completed at an issue price of US$0.238 (A$0.328) per share to institutional and professional investors. Funds raised will be used to support the company’s cash position to fund growth in its loan book.
CML assists SMEs with their cashflow by funding their invoices and equipment. CML services over 3,000 SMEs funding over US$1.2 billion of invoices per year and has an equipment finance book of over US$73 million. Operating under the name CashFlow Finance and Classic Funding Group, CML provides invoice factoring, invoice discounting and equipment finance. Through invoice financing the company provides an advance payment of up to 80% of a client’s invoice to help their business overcome the cash pressure of delivering goods or services in advance of payment from their customers (approximately 30 to 60 days).
Oaklins’ team in Australia acted as lead manager in this transaction.
CEO, CML Group
Talk to the deal team
Managing DirectorMelbourne, Australia
ME Investicija has sold Viena Sąskaita to Aktiva Finants
ME Investicija has sold Viena Sąskaita to Aktiva Finants.Learn more
Ferocia has been acquired by Bendigo and Adelaide Bank (ASX:BEN)
Bendigo and Adelaide Bank (BEN) has entered into a share sale agreement to acquire 100% of the shares of Ferocia Pty Ltd for a consideration of up to US$86.3 million. BEN has partnered with Ferocia for more than nine years to deliver BEN’s e-banking app and internet banking platform and in 2018, the collaboration led to the launch of Up – Australia’s highest rating banking app.Learn more
Alice Queen (ASX:AQX) has raised funds via an institutional placement
Alice Queen Limited (ASX:AQX) has completed a fundraising. The funds will be used to complete the Horn Island Scoping Study, accelerate exploration activities at Horn Island and support working capital. The placement was significantly oversubscribed and strongly supported by a major shareholder, as well as several existing shareholders and new institutional and sophisticated investors.Learn more