29 Sep 2011

Lightbulb maker extends share offer deadline

1:25 pm on 29 September 2011

The owners of energy efficient lightbulb maker Energy Mad have extended the deadline for their offer of shares by more than two weeks.

The initial deadline for investors to buy up to $10 million worth of shares in the Christchurch firm was 23 September.

The firm is extending the offer until 12 October after a review of applications showed it was unlikely to meet the minimum $5 million threshhold.

Energy Mad chairman Rick Ramsay says the extension will also give the company more time to continue discussions with potential strategic and institutional investors.

The firm is raising capital to fund further expansion overseas.