Salmat kicks off $15m fundraising drive to close Microsourcing acquisition
Just weeks after reporting a decline of $47m in revenue Salmat has launched a drive to raise $15m through an entitlement offer.
The move will see the marketing services company offer 35 million shares at 43 cents each to help fund the acquisition of the final 50% of Microsourcing International.
Salmat acquired the remaining 50% stake in the Philippine-based business in August for $US24.1m.
The business has become an important cog in Salmat’s international strategy, contributing $64.1m to Salmat’s 2016 financial year revenue and reporting 35% annual compound growth since Salmat first invested in the business in 2014.
