Marine propulsion and stabilisation technology company Veem is raising $5 million, while its management sells down $10 million worth of shares.
Thanks to the simultaneous transactions, institutional investors have the chance to buy up $15 million worth of shares in the business at a 15 per cent discount.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
Yolanda Redrup is the editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk. Connect with Yolanda on Twitter. Email Yolanda at yolanda.redrup@afr.com
