From time to time market updates are revealed to the public who seeks to know how their respective firms are performing. The current update brought about by frank Xetra claimed that bookmaker Mybet Holdings SE has made a substantial step in making a full completion of the funding which is believed to be worth €5 million (£3.5 million). Frankfurt Xetra claimed that the bookmaker was able to make a full detailed completion with the help of its convertible bond loan placement which attributed greatly.
At the same time, the respective heads at Mybet Holdings SE claimed that they were to make things more understandable to the public and continued to specify on the fundraising round by saying that their main operator would take up the initiative of paying 6.25% interest which will be added on top of the €5 million (£3.5 million) that was collected.
The Germany based bookmaker further added that all the funds raised during the event was subject to the oversubscription. The firm claimed that their outstanding debt would be cleared soon where a total of 50,000 debt owners will be accorded with a standard value of € 100.
The process of the initiation of the fundraising was earlier revealed in November the heads of Mybet. They claimed that the main purpose of the fundraising would be coming up with the required cash to clear its debts. This comes in moments where the firm had been faced by serious catastrophe of losses which amounted to -€ 4.4 million. The firm had earlier stated that the main reason for the losses would be attributed to the server downturn that had resulted from the poor performance in the number of clients being involved at the bookmaker.
Despite clearing the outstanding debts, the mybet governance claimed that the remaining amount will be used to improve the firm especially in various operators’ infrastructure platform. This would be crucial in the aspect of broadening its product horizons.
CEO of Mybet Holdings Zeno Ossko claimed that their main investors have shown an optimistic feedback on the issue of their campaign and strategies. This has resulted to the long time as well as new investors incorporating the convertible bond which was the key aspect in formulating different ways to curb their loss problem. He concluded by saying that he was pleased to oversee new investors in the firm and this clearly showed that his company was on the right track in the maximization of profits.
This article is published in: Betting companies, News
Tags: mybet
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