GDS Global raises $4.08 mil from placement exercise; net proceeds to fund acquisitions

GDS Global has completed the placement of 60 million shares at 6.8 cents each, raising $4.08 million in gross proceeds.

The group says that net proceeds will be used for pursuing additional and larger projects locally and overseas; strengthen export sales and marketing capabilities to expand the company’s reach into new regional markets; and to provide working capital for the proposed acquisitions of two companies.