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MoneyMe register reshaped after $37m raising

Ayesha de Kretser
Ayesha de KretserSenior reporter

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Companies associated with mysterious Bermuda-based investor Duncan Saville and Phil King’s Regal Funds Management have emerged with sizeable stakes in embattled personal lender MoneyMe after it wrapped up a massively dilutive capital raising.

Documents filed with the ASX on Wednesday showed MoneyMe chief executive Clayton Howes did not participate in the raising, which was conducted at a 67.9 per cent discount to its six-month volume weighted average price or 8¢ a share. Mr Howe’s stake was subsequently diluted to 6.9 per cent from 18.3 per cent previously.

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Ayesha de Kretser is a senior reporter with The Australian Financial Review covering the aviation and tourism sectors. She has previously reported on banking, mining and commodity markets. Connect with Ayesha on Twitter. Email Ayesha at ayesha.dekretser@afr.com.au

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    Original URL: https://www.afr.com/companies/financial-services/moneyme-register-reshaped-after-37m-raising-20230524-p5dax6