Bevan Slattery's telecommunications services play Superloop will be cap in hand in front of fund managers and sophisticated investors on Monday.
Street Talk can reveal the company and its broker Morgans were putting the final touches to a $30 million-odd equity raising over the weekend.
Superloop is expected to seek to raise about $30 million via a placement of shares to sophisticated and professional investors, and a rights issue to existing shareholders. Slattery, a well-known telco sector entrepreneur and Superloop's founder, is expected to take up his rights in full
Superloop is expected to tell potential investors it needs the funds to bankroll a handful of growth projects. The company has plenty on the go in Singapore, Hong Kong and Australia, including building the the INDIGO subsea cable systems which connect Singapore, Jakarta, Perth and Sydney
Cap raising, page-3
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