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FE Investments Group raises A$1.7M in share issue

FE Investments Group Ltd. raised A$1.7 million via a private placement of shares to Hong Kong-based investor Sunbow Ltd.

FE Investments will issue 10 million ordinary shares at 17 Australian cents per share, according to a March 26 release. The company will issue the shares over three tranches over three months with the first tranche of shares to be issued in March and subsequent tranches in April and May.

The funds raised from the private placement will be used for the company's general working capital requirements as well as strengthening its capital base.