Dicker Data issues new round of shares
- 31 August, 2015 12:37
Australian distributor, Dicker Data (ASX: DDR), has issued three million in shares in an effort to raise $5,250,000 in capital.
The shares were issued under the share purchase plan (SPP) announced to shareholders on August 4 and follows the raising of $45.5 million earlier in the month to cover the cost of the Express Data acquisition and integration.
Australia’s largest technology distributor has had a bumper six months in the first half of 2015, with revenues on track to exceed $1 billion by year end.
The company is also on track to exceed $30 million in pre-tax profit for 2015, a promise that was made earlier in the year.
Contributing to Dicker Data’s success so far has been the introduction of its CloudPortal Marketplace, sales from existing vendor relationships like HP and new offerings from vendors such as Intel.
At the time of writing, Dicker Data shares were trading at $1.89 on the Australian Stock Exchange.