Investors seem to be finding real value in Pulse’s stock. Pulse investments is reporting that their latest Rights Issue, which was opened to shareholders on record as of May 5, 2008, has been oversubscribed. The Rights Issue closed on Monday May 26, 2008. On offer were 18 million shares at $7 dollars per share. According to the report, 20.2 million shares were bought.
The money raised from the share offer will according to Pulse be used to
- Refurbish Villa Ronai
- Expand their overseas operations
- Develop new interactive website
- New traflagar storage facility
- Peter Tosh Museum project