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Biotechnology company Fiji Kava raises A$5.2M in ASX IPO

Fiji Kava Ltd., a company developing therapeutics using the kava plant, raised A$5.2 million in its IPO on the Australia Securities Exchange.

The Subiaco, Australia-based company sold 26 million ordinary shares at 20 Australian cents per share in the offering.

Pac Partners Securities Pty Ltd. acted as lead manager for the offering.