IKE Secures AU$18 million via Fully Underwritten Placement to Accelerate Growth Strategy

ikeGPS Group Limited (ASX: IKE) has successfully raised approximately AU$18.0 million through a fully underwritten institutional placement at an issue price of AU$0.81 per share. Following this, IKE plans to offer a non-underwritten Share Purchase Plan (SPP) to eligible existing shareholders, targeting an additional AU$2.0 million, bringing the total equity raise to AU$20.0 million. The funds raised will be used to support the company’s growth initiatives, including the development of new subscription-based products, expansion of sales and marketing capabilities, evaluation of strategic acquisition opportunities, and strengthening of working capital. Settlement of the placement shares is scheduled for Monday, 21 July 2025, with trading on the ASX and NZX expected to begin on Tuesday, 22 July 2025.

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