Australian electronics and
mobile phone retailer the Strathfield Group has unveiled
plans to raise AUS$15 million (US$9.9 million) to fund several new
e-commerce ventures.
The company announced on the Australian
Stock Exchange (ASX) that it would be issuing 5.5 million shares to
institutional investors for AUS$2.80 each (US$1.85).
The capital raised by this share offer will be used to fund the
company’s new division, called Strathfield E Ventures.
Strathfield Group CEO Andrew Kelly said that through E Ventures, the
company intended to offer “content and services over the Internet to your
car, mobile or Web companion”.
Strathfield is already the country’s largest mobile phone retailer,
having sold its one millionth phone in February. The company can now also
provide computer products for the content it plans to sell, after it
acquired handheld computer manufacturer E World Technologies in August.
E World produces handheld computers and accessories based on Palm
Computing, Microsoft Windows CE and Psion operating systems. It also
provides software development capabilities for corporate email, field data
collection, sales automation and other custom solutions for handheld
computers and mobile communications devices.