Lithium
44.73
(1.93%)
Gold
2,571.60
(0.25%)
Copper
4.08
0.21%
Oil
68.62
0.72%
Bitcoin
88,225.15
(2.51%)
FTSE 100
8,071.19
0.51%
Nikkei 225
38,535.70
(0.96%)
Dow Jones
43,750.86
(0.64%)
Iron Ore
98.45
(2.11%)
USD/AUD
0.65
(0.58%)
Hang Seng
19,435.81
(0.97%)
Lithium
44.73
(1.93%)
Gold
2,571.60
(0.25%)
Copper
4.08
0.21%
Oil
68.62
0.72%
Bitcoin
88,225.15
(2.51%)
FTSE 100
8,071.19
0.51%
Nikkei 225
38,535.70
(0.96%)
Dow Jones
43,750.86
(0.64%)
Iron Ore
98.45
(2.11%)
USD/AUD
0.65
(0.58%)
Hang Seng
19,435.81
(0.97%)
Lithium
44.73
(1.93%)
Gold
2,571.60
(0.25%)
Copper
4.08
0.21%
Oil
68.62
0.72%
Bitcoin
88,225.15
(2.51%)
FTSE 100
8,071.19
0.51%
Nikkei 225
38,535.70
(0.96%)
Dow Jones
43,750.86
(0.64%)
Iron Ore
98.45
(2.11%)
USD/AUD
0.65
(0.58%)
Hang Seng
19,435.81
(0.97%)
Lithium
44.73
(1.93%)
Gold
2,571.60
(0.25%)
Copper
4.08
0.21%
Oil
68.62
0.72%
Bitcoin
88,225.15
(2.51%)
FTSE 100
8,071.19
0.51%
Nikkei 225
38,535.70
(0.96%)
Dow Jones
43,750.86
(0.64%)
Iron Ore
98.45
(2.11%)
USD/AUD
0.65
(0.58%)
Hang Seng
19,435.81
(0.97%)
Lithium
44.73
(1.93%)
Gold
2,571.60
(0.25%)
Copper
4.08
0.21%
Oil
68.62
0.72%
Bitcoin
88,225.15
(2.51%)
FTSE 100
8,071.19
0.51%
Nikkei 225
38,535.70
(0.96%)
Dow Jones
43,750.86
(0.64%)
Iron Ore
98.45
(2.11%)
USD/AUD
0.65
(0.58%)
Hang Seng
19,435.81
(0.97%)
Lithium
44.73
(1.93%)
Gold
2,571.60
(0.25%)
Copper
4.08
0.21%
Oil
68.62
0.72%
Bitcoin
88,225.15
(2.51%)
FTSE 100
8,071.19
0.51%
Nikkei 225
38,535.70
(0.96%)
Dow Jones
43,750.86
(0.64%)
Iron Ore
98.45
(2.11%)
USD/AUD
0.65
(0.58%)
Hang Seng
19,435.81
(0.97%)
Lithium
44.73
(1.93%)
Gold
2,571.60
(0.25%)
Copper
4.08
0.21%
Oil
68.62
0.72%
Bitcoin
88,225.15
(2.51%)
FTSE 100
8,071.19
0.51%
Nikkei 225
38,535.70
(0.96%)
Dow Jones
43,750.86
(0.64%)
Iron Ore
98.45
(2.11%)
USD/AUD
0.65
(0.58%)
Hang Seng
19,435.81
(0.97%)
Lithium
44.73
(1.93%)
Gold
2,571.60
(0.25%)
Copper
4.08
0.21%
Oil
68.62
0.72%
Bitcoin
88,225.15
(2.51%)
FTSE 100
8,071.19
0.51%
Nikkei 225
38,535.70
(0.96%)
Dow Jones
43,750.86
(0.64%)
Iron Ore
98.45
(2.11%)
USD/AUD
0.65
(0.58%)
Hang Seng
19,435.81
(0.97%)
Lithium
44.73
(1.93%)
Gold
2,571.60
(0.25%)
Copper
4.08
0.21%
Oil
68.62
0.72%
Bitcoin
88,225.15
(2.51%)
FTSE 100
8,071.19
0.51%
Nikkei 225
38,535.70
(0.96%)
Dow Jones
43,750.86
(0.64%)
Iron Ore
98.45
(2.11%)
USD/AUD
0.65
(0.58%)
Hang Seng
19,435.81
(0.97%)
Lithium
44.73
(1.93%)
Gold
2,571.60
(0.25%)
Copper
4.08
0.21%
Oil
68.62
0.72%
Bitcoin
88,225.15
(2.51%)
FTSE 100
8,071.19
0.51%
Nikkei 225
38,535.70
(0.96%)
Dow Jones
43,750.86
(0.64%)
Iron Ore
98.45
(2.11%)
USD/AUD
0.65
(0.58%)
Hang Seng
19,435.81
(0.97%)
Lithium
44.73
(1.93%)
Gold
2,571.60
(0.25%)
Copper
4.08
0.21%
Oil
68.62
0.72%
Bitcoin
88,225.15
(2.51%)
FTSE 100
8,071.19
0.51%
Nikkei 225
38,535.70
(0.96%)
Dow Jones
43,750.86
(0.64%)
Iron Ore
98.45
(2.11%)
USD/AUD
0.65
(0.58%)
Hang Seng
19,435.81
(0.97%)
Lithium
44.73
(1.93%)
Gold
2,571.60
(0.25%)
Copper
4.08
0.21%
Oil
68.62
0.72%
Bitcoin
88,225.15
(2.51%)
FTSE 100
8,071.19
0.51%
Nikkei 225
38,535.70
(0.96%)
Dow Jones
43,750.86
(0.64%)
Iron Ore
98.45
(2.11%)
USD/AUD
0.65
(0.58%)
Hang Seng
19,435.81
(0.97%)
Lithium
44.73
(1.93%)
Gold
2,571.60
(0.25%)
Copper
4.08
0.21%
Oil
68.62
0.72%
Bitcoin
88,225.15
(2.51%)
FTSE 100
8,071.19
0.51%
Nikkei 225
38,535.70
(0.96%)
Dow Jones
43,750.86
(0.64%)
Iron Ore
98.45
(2.11%)
USD/AUD
0.65
(0.58%)
Hang Seng
19,435.81
(0.97%)
Lithium
44.73
(1.93%)
Gold
2,571.60
(0.25%)
Copper
4.08
0.21%
Oil
68.62
0.72%
Bitcoin
88,225.15
(2.51%)
FTSE 100
8,071.19
0.51%
Nikkei 225
38,535.70
(0.96%)
Dow Jones
43,750.86
(0.64%)
Iron Ore
98.45
(2.11%)
USD/AUD
0.65
(0.58%)
Hang Seng
19,435.81
(0.97%)
Lithium
44.73
(1.93%)
Gold
2,571.60
(0.25%)
Copper
4.08
0.21%
Oil
68.62
0.72%
Bitcoin
88,225.15
(2.51%)
FTSE 100
8,071.19
0.51%
Nikkei 225
38,535.70
(0.96%)
Dow Jones
43,750.86
(0.64%)
Iron Ore
98.45
(2.11%)
USD/AUD
0.65
(0.58%)
Hang Seng
19,435.81
(0.97%)
Lithium
44.73
(1.93%)
Gold
2,571.60
(0.25%)
Copper
4.08
0.21%
Oil
68.62
0.72%
Bitcoin
88,225.15
(2.51%)
FTSE 100
8,071.19
0.51%
Nikkei 225
38,535.70
(0.96%)
Dow Jones
43,750.86
(0.64%)
Iron Ore
98.45
(2.11%)
USD/AUD
0.65
(0.58%)
Hang Seng
19,435.81
(0.97%)
Lithium
44.73
(1.93%)
Gold
2,571.60
(0.25%)
Copper
4.08
0.21%
Oil
68.62
0.72%
Bitcoin
88,225.15
(2.51%)
FTSE 100
8,071.19
0.51%
Nikkei 225
38,535.70
(0.96%)
Dow Jones
43,750.86
(0.64%)
Iron Ore
98.45
(2.11%)
USD/AUD
0.65
(0.58%)
Hang Seng
19,435.81
(0.97%)
Lithium
44.73
(1.93%)
Gold
2,571.60
(0.25%)
Copper
4.08
0.21%
Oil
68.62
0.72%
Bitcoin
88,225.15
(2.51%)
FTSE 100
8,071.19
0.51%
Nikkei 225
38,535.70
(0.96%)
Dow Jones
43,750.86
(0.64%)
Iron Ore
98.45
(2.11%)
USD/AUD
0.65
(0.58%)
Hang Seng
19,435.81
(0.97%)
Lithium
44.73
(1.93%)
Gold
2,571.60
(0.25%)
Copper
4.08
0.21%
Oil
68.62
0.72%
Bitcoin
88,225.15
(2.51%)
FTSE 100
8,071.19
0.51%
Nikkei 225
38,535.70
(0.96%)
Dow Jones
43,750.86
(0.64%)
Iron Ore
98.45
(2.11%)
USD/AUD
0.65
(0.58%)
Hang Seng
19,435.81
(0.97%)
Lithium
44.73
(1.93%)
Gold
2,571.60
(0.25%)
Copper
4.08
0.21%
Oil
68.62
0.72%
Bitcoin
88,225.15
(2.51%)
FTSE 100
8,071.19
0.51%
Nikkei 225
38,535.70
(0.96%)
Dow Jones
43,750.86
(0.64%)
Iron Ore
98.45
(2.11%)
USD/AUD
0.65
(0.58%)
Hang Seng
19,435.81
(0.97%)

Sovereign Cloud Holdings (ASX: $SOV) completes institutional entitlement offer

Sovereign Cloud Holdings (ASX: $SOV) announcement overview


Sovereign Cloud Holdings Ltd (ASX: $SOV) has successfully completed the institutional component of its pro rata accelerated renounceable entitlement offer, raising gross proceeds of approximately $21.0 million at $0.03 per new fully paid ordinary share. Approximately 53% of existing eligible institutional shareholders took up the offer, with the remaining entitlements sold in the Institutional Bookbuild at $0.03 per new share. Settlement of the Institutional Entitlement Offer is scheduled for 27 March 2024, with approximately 560 million new shares issued under the offer to commence trading on 28 March 2024.

Executive commentary on completion of institutional entitlement offer


The successful completion of the institutional component of the entitlement offer demonstrates the strong support from existing eligible institutional shareholders. We are pleased with the outcome and the additional demand received, leading to an increase in the underwritten component of the offer. The commitment from directors and substantial shareholders further reinforces confidence in the company's growth prospects and the retail entitlement offer is expected to raise a minimum of approximately $5.6 million and a maximum of approximately $9.0 million.

Summary of Sovereign Cloud Holdings (ASX: $SOV) announcement


Sovereign Cloud Holdings Ltd (ASX: $SOV) has successfully completed the institutional entitlement offer, raising approximately $21.0 million. The company's directors and substantial shareholders have shown commitment by agreeing to acquire up to $15.9 million of new shares. The retail entitlement offer is expected to raise a minimum of approximately $5.6 million and a maximum of approximately $9.0 million. Eligible retail shareholders will receive further details in the retail offer booklet and personalised entitlement and acceptance form on 25 March 2024. The company's ordinary shares are expected to resume trading from market open today on an ex-entitlement basis. AUCloud, a subsidiary of Sovereign Cloud Holdings Ltd, is an Australian owned and operated Cyber Security Managed Security Service Provider (MSSP) and Sovereign Cloud Service (laaS) specialist, supporting Australian Governments and Critical National Industries (CNIs) with sovereign cloud infrastructure, backup, and cyber security threat defence and response services.

| ASX
(+0%)
At close 13/11 (AEDT)
Market cap
$42.5M
Volume
378
DY Yield
PE Ratio
52 Week Range
0.025588 - 0.31
1YR Return
N / A

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