Scented candle company Ecoya has raised $4.75 million by selling shares to institutional and individual investors.
The company, which listed on the sharemarket in May, plans to raise another $1 million in a share offer to its New Zealand shareholders.
It will offer the shares at the same price, 75 cents each, a discount of 6.25%.
The capital raising follows Ecoya's purchase of the cosmetics company Trilogy in a deal worth 20 million dollars.
Executive chairman Geoff Ross says they have raised new equity and tapped bank finding to pay for the acquisition, which he says was well-met by the market.
