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An update from Mighty Kingdom Ltd ( (AU:MKL) ) is now available.
Mighty Kingdom Limited has announced a capital raising initiative aimed at strengthening its balance sheet and funding growth initiatives. The company plans to raise approximately $3.35 million through an accelerated non-renounceable entitlement offer and two placements, with new shares priced at $0.005 each. This move is expected to increase the company’s issued capital by about 310%, and the funds will be used for operational initiatives and general working capital. The capital raising is anticipated to receive strong support from existing major shareholders, enhancing the company’s institutional and retail shareholder base.
More about Mighty Kingdom Ltd
Mighty Kingdom Limited operates in the gaming industry, focusing on the development and publishing of interactive entertainment content. The company targets a broad market, including both institutional and retail stakeholders.
Technical Sentiment Signal: Buy
Current Market Cap: A$1.3M
See more data about MKL stock on TipRanks’ Stock Analysis page.