on CABASSE GROUP (EPA:ALCG)
Success of VEOM Group's capital increase: €1.1 million raised
VEOM Group, European leader in Smart Home, announced the success of its capital increase with maintenance of preferential subscription rights (DPS). The operation, which took place from May 31 to June 13, 2024, made it possible to raise 1.1 million euros through the issue of 4,391,088 new shares at a price of €0.25 per share.
Overall demand reached 1.3 million euros, representing an oversubscription rate of 116%. This fundraising will allow VEOM Group to strengthen its balance sheet, suspend its dilutive financing contract and accelerate the marketing of new home automation and video security products.
The settlement-delivery and listing of the new shares will begin on June 19, 2024. Thus, VEOM Group is in a better position to capture growth opportunities and improve its profitability, in particular through a cost reduction plan.
R. P.
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