ComputerCorp to raise $4.2m for working capital

West Perth-based IT infrastructure services provider ComputerCorp Ltd will raise $4.2 million through a rights issue to existing shareholders, to be used as additional working capital.

The company, which raised $7 million in an oversubscribed prospectus last year, will issue 21 million shares at 20c each to existing shareholders on a basis of four new shares for every 13 held.

The deal is underwritten by Sydney-based TCB Investment Holdings Pty Ltd, a company associated with ComputerCorp non-executive chair Domenic Martino.

ComputerCorp will dispatch prospectuses to shareholders on February 9, with the offer to close on February 23.