Kalina Power Limited (ASX: $KPO) has successfully concluded its pro-rata non-renounceable entitlement offer, with eligible shareholders subscribing for 49,325,308 new shares, representing $197,301 of gross proceeds. The take up rate of entitlements by eligible shareholders stood at approximately 17.85%. The new shares applied for will be issued on 26 April 2024, with normal trading expected to commence on 29 April 2024.
Kalina Power is pleased with the response from eligible shareholders to the non-renounceable entitlement offer. The take up rate of approximately 17.85% reflects the confidence and support of our shareholders in the company's future prospects. We appreciate the participation of all eligible shareholders and look forward to the issuance of the new shares on 26 April 2024, followed by the commencement of normal trading on 29 April 2024.
Kalina Power (ASX: $KPO) has successfully concluded its non-renounceable entitlement offer, with a 17.85% take up rate by eligible shareholders. The company received valid applications for 49,325,308 new shares, representing $197,301 of gross proceeds. The new shares applied for will be issued on 26 April 2024, and normal trading is expected to commence on 29 April 2024. As the entitlement offer was fully underwritten, the company will allot the shortfall of 226,940,693 new shares to the underwriters pursuant to the underwriting agreement. Kalina Power expresses gratitude to all eligible shareholders who participated in the entitlement offer. The company looks forward to the next steps following the issuance of new shares and remains committed to its corporate strategy and future growth.