ICQ 0.00% 51.5¢ icar asia limited

courtesy of SMH this morning........

  1. 83 Posts.
    courtesy of SMH this morning.....


    10:43am: iCar Asia is seeking to raise $21 million in a placement through Bell Potter Securities and Baillieu Holst. iCar shares went into a trading halt this morning as its brokers went about finding investors for the placement. It’s understood Bell Potter and Baillieu were seeking to sell about 19 million shares at $1.10 each to raise $21 million. The offer was priced at a 9 per cent discount to iCar Asia’s last close of $1.21.The raising comes after iCar Asia announced it had bought Thai online car classifieds business One2Car Co Ltd. iCar said it paid $16.7 million for the acquisition and entered into conditional agreements to buy the company after market on Monday. iCar has a handful of automotive websites in Malaysia, Indonesia and Thailand. Its major shareholder is Patrick Grove’s Catcha Group, which also stakes in owns iProperty Group and iBuy, while carsales.com also has a 22.9 per cent stake.
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