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Australia's Authorised Investment Fund to raise A$6.6M in rights offer

Australia's Authorised Investment Fund Ltd. plans to raise up to A$6.6 million through a rights offering.

The company said June 5 that it is offering one share for every one share held by eligible shareholders on June 12 at a price of 3 Australian cents per share. It plans to use proceeds from the offering to pay general operating costs and working capital.

The offer will close July 27 and the new shares will be issued Aug. 3.