Change Financial Limited: Capital Raising to Support Growth

Change Financial Limited (ASX: CCA) announced the successful raising of AU$3.50 million from institutional, sophisticated, and professional investors by issuing new fully paid ordinary shares. Moreover, eligible shareholders will be able to participate in a Share Purchase Plan, raising AU$0.75 million.

The capital raised from the Placement and SPP will be strategically utilized to fortify its financial position, bolster working capital, meet security capital requirements, and pursue lucrative client opportunities in the near term. Notably, the successful launch of Unity Credit Union has propelled Change to become one of the largest non-bank debit card issuers in New Zealand. Furthermore, its expanding sales pipeline reflects growing opportunities in Australia, New Zealand, and the US, driven by increasing market reference ability.

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