Wellnex Life Limited (ASX: WNX) provided an update on the proposed dual listing of Wellnex Life on the London Stock Exchange Main Board. Wellnex Life has successfully raised approximately AU$2 million in a placement involving UK-based brokers and high-net-worth investors. This was achieved through the issue of 73,781,290 fully paid ordinary shares at a compelling AU$0.028 per share. These funds, combined with IPO proceeds received once the company is listed on the LSE, will be used to retire all outstanding debts and provide working capital for international expansion.
The retiring of the debt will save the company AU$ 1.4 million annually in interest and associated costs and significantly strengthen its balance sheet. The benefits of listing on the LSE's Main Board include an expanded investor pool, greater liquidity, and the prestige associated with being listed on Europe's largest exchange, all of which will contribute to the company's higher valuation.
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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.
