Frontier Digital Ventures (ASX:FDV) - Founder and CEO, Shaun DiGregorio
Founder and CEO, Shaun DiGregorio
Source: Frontier Digital Ventures
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Frontier Digital Ventures (FDV) completes its share purchase plan (SPP) with applications totalling approximately $18.9 million, significantly higher than the targeted $5 million
  • Investors had the opportunity to apply for up to $30,000 worth of shares at $1.50 each with FDV saying it will accept all applications in full
  • The SPP follows a recent $35 million placement and takes the company’s gross proceeds raised to approximately $53.9 million
  • CEO Shaun Di Gregorio says the company is very grateful for the support shown by shareholders as it continues to execute on its long-term strategy
  • Shares have been down 2 per cent trading at $1.46 each

Frontier Digital Ventures (FDV) has completed a share purchase plan (SPP) with applications totalling approximately $18.9 million, significantly higher than the targeted $5 million.

Investors had the opportunity to apply for up to $30,000 worth of shares at $1.50 each with FDV saying it will accept all applications in full.

The SPP follows a recent $35 million placement and takes the company’s gross proceeds raised to approximately $53.9 million.

The company said valid applications were received from 1640 of 9049 eligible shareholders, representing a participation rate of of 18.1 per cent, with an average application value of approximately $11,511.

CEO Shaun Di Gregorio says the company is very grateful for the support shown by shareholders as it continues to execute on its long-term strategy.

“We are humbled by the overwhelming vote of confidence in FDV from our shareholder base, which has grown considerably in recent years,” he said.

Shares were down 2 per cent trading at $1.46 at 2.07 pm AEDT.

FDV by the numbers
More From The Market Herald
Countplus (ASX:CUP) - Incoming CEO, Hugh Humphrey

" Hugh Humphrey appointed CEO of Countplus (ASX:CUP)

Investment services company CountPlus (ASX:CUP) has appointed Hugh Humphrey as the company's CEO, effective July 1.

" ASX employee tests positive for Covid-19

The ASX says an employee has contracted Covid-19.

" ASIC launches official investigation into ASX market outage

The ASX has confirmed today it is officially under investigation from the Australian Securities and Investments…

" ASX sheds more light on last week’s market tech failure

The Australian Securities Exchange has shed some more light on the nature of last week's market…