Australian United Investment Company has raised $20.6 million through the placement of 2.8 million shares at $7.28 a share. The stock was issued at a 5 per cent discount to the latest unaudited net tangible asset backing per share. The funds will be used to reduce borrowings or will be held on deposit pending investment in Australian shares. Dixon Advisory & Superannuation Services acted as agent for the placement.Staff reporter

UBS Nominees, which is prime broker for a mystery shareholder in Keybridge Capital, said it had cut its substantial shareholding from 12.61 per cent to 10.08 per cent. It sold 4.36 million shares in a series of off-market transactions last week. Staff reporter