Praemium raises new funds
Arthur Naoumidis
Publicly-listed financial services software provider Praemium has raised a further $8 million by way of a private placement.
The company, which went into a trading halt last week, told the Australian Securities Exchange this morning that it had raised the $8 million via the private placement of 20 million new ordinary shares to institutional and sophisticated investors.
Praemium Group chief executive Arthur Naoumdis said the funds would be used to fund working capital and to assist the company in achieving its business plans in both Australia and the United Kingdom.
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