Parkway Corporate Limited (ASX: PWN) has secured AU$2.25 million through an oversubscribed placement, surpassing its initial target of AU$1.5 million. The funding, supported by a strategic US investor and existing shareholders, will fuel strategic growth initiatives, notably the integration and expansion of recently acquired Tankweld. Settlement is expected by May 22, 2024, with the new shares aligning with existing ones.
Participants will receive free attaching options with their subscriptions. Evolution Capital facilitated the placement, earning a 4.2% fee. Parkway's CEO, Bahay Ozcakmak, views this success as a significant step, enhancing the company's capacity in technology commercialization and industrial project execution. The acquisition of Tankweld positions Parkway with comprehensive turnkey project delivery capabilities, empowering its transformation into an industrial water treatment powerhouse. Ozcakmak expresses gratitude to shareholders for their support and anticipates further progress as major projects advance.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
