HGL Launches $15m placement
- Investment business HGL (HNG) is raising up to $15 million through a private and conditional placement
- Around 22.5 million shares are being issued to investors through a private placement which is raising $7.4 million
- A further $7.6 million is being raised through a conditional placement but this will require shareholder approval at a meeting to be held next February
- The company plans to use the money to support its balance sheet as it progresses investment initiatives
- Company shares are down 5 per cent to trade at 38 cents
