Australia's Opthea Ltd. said it completed the placement and institutional component of an entitlement offer, raising proceeds of about A$42 million.

The company will open the offer's retail entitlement component April 10, with expected proceeds of about A$3 million.

Wilsons Corporate Finance Ltd. acted as sole lead manager for the offering.

As of April 4, US$1 was equivalent to A$1.32.