Neptune in deeply discounted equity offer

Neptune Marine Services Ltd is seeking to raise up to $80.6 million by selling new shares at less than a third of the current market value, under plans to return to profitability.
The equity raising will be a three-for-one pro-rata entitlement offer of new shares at six cents per share to eligible shareholders, a deep discount from the last trading price of 20.5 cents.
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Source: The Sydney Morning Herald