IGL (halt): The integrated marketing company was in a trading halt today raising $18m in an institutional placement at $2.25 while major shareholder the Selig Family are selling down 4.5m shares on the same terms (around 30% of their holding). There will be a small $2m Share Purchase Plan on the same terms with details to come for existing shareholders. The deal is to fund future growth while the sell-down is being sold as a way of improving liquidity in the stock.
MM remains positive on IGL ~$2.25
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