- Service provider Webcentral Group (WCG) has broken out of a trading halt earlier than expected today after tapping investors for a neat $5.6 million
- The company requested that trading halt yesterday afternoon, telling investors the halt will last until Monday, November 16, at the latest
- Webcentral said it needed the cash urgently to fund normal operations and pursue its growth strategy
- This comes as fellow ASX-listed 5G Networks (5GN) completed an off-market takeover of Webcentral
- 5GN now owns just under 57 percent of Webcentral after beating a competing Web.com offer and overcoming some regulatory hurdles
- Investors seem supportive of the new direction for Webcentral, with shares in the company up over 14 percent and worth 24 cents each this afternoon
Webcentral Group: Raises “urgent” $5.6M following 5GN takeover
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