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Acrow Completes Share Purchase Plan

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Acrow (ASX:ACF) completed its share purchase plan, raising AU$16 million and fully underwritten to AU$10 million by Morgans and Shaw and Partners, according to a Thursday filing with the Australian bourse.

The company received valid applications of roughly AU$21 million, representing a participation rate of about 21%, with the board exercising its discretion to accept AU$6 million above the underwritten amount, the filing said.

About 18.8 million new shares will be issued to eligible shareholders at an issue price of AU$0.85 apiece, per the filing.

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