DVB swells coffers by $102m

Computer-monitor maker and digital-broadcasting solutions provider DVB Holdings has raised about $102 million through a top-up share placement to boost working capital.

DVB's parent, electronic-products maker Universal Appliances, yesterday placed 17 million DVB shares at $6 each to the public through Worldsec Securities and then subscribed to a similar number.

The placement price was a 10.44 per cent discount to yesterday's market close of $6.70.

The move came a day after Universal said it had bought 15 million DVB preference shares from US-based Dii Group, which when fully converted to ordinary shares, would give Universal an additional 9.55 per cent stake in DVB.