It reached an intraday high of 37 cents, and closed at 35 cents.
All of Vin’s Holdings’ 20 million placement shares were fully subscribed, and the company raised $6 million at the close of application list on Apr 11.
Of the net proceeds raised of $4 million, the company says that it will use about $3.2 million for enhancement of IT and services, and the expansion of showrooms, workshops and after-sales services.
The group’s expansion plans are underpinned by a resilient balance sheet and a strong net asset position of $23.3 million as at Sept 30, 2024, as well as cash and cash equivalents of $11.2 million as at Feb 28, 2025.
See also: Thakral associate GemLife considering IPO on Australian bourse
The group’s largest revenue contributor is automotive sales and related services.
Vin’s total issued share capital now comprises 131,111,110 shares with a market capitalization of $39.3 million.
Shares in Vin’s Holdings closed flat at 35 cents on Apr 15.
