Orbital Corporation Limited (AU:OEC) has released an update.
Orbital Corporation Limited is set to raise approximately A$2.0 million through a renounceable pro-rata entitlement offer, allowing shareholders to buy new shares at A$0.11 each. This initiative could slightly alter the company’s control dynamics, potentially increasing the influence of major shareholders like UIL Limited and Boneyard Investments. This move presents an opportunity for investors keen on Orbital’s growth and influence in the UAV market.
For further insights into AU:OEC stock, check out TipRanks’ Stock Analysis page.
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