Christopher Adams

The Business Herald’s markets and banking reporter.

Capital raising proceeds for Wellington Drive Technologies

Ross Green of Wellington Drive Technologies. Photo / Kenny Rodger
Ross Green of Wellington Drive Technologies. Photo / Kenny Rodger

Thirteen trades were made yesterday in Wellington Drive Technologies' capital raising scheme.

The Albany-based, listed manufacturer of energy-efficient motors is offering one new share for every existing share at a heavily discounted rate of 1.25c each.

The firm hopes to raise $8.4 million through the offer, which stops on January 27. The rights trading closed at 0.6c last night.

- NZ Herald

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