MOKO raises $6.8m

Perth-founded technology business MOKO Social Media has raised $6.8 million through the exercise of share options.

About 127.9 million options were converted into the company’s shares at 5 cents each, with substantial shareholders and MOKO directors Trevor Nairn and Peter Yates heavily involved in the share conversion.

Directors Ian Rodwell, Greg McCann and Jeff White also exercised their listed option holdings, with Mr Mcann acquiring $125,000 worth of ordinary shares while Mr Rodwell picked up $16,250 worth.

Mr White acquired $24,000 worth of shares.

MOKO, which is dual-listed on the ASX and on the NASDAQ, targets students, political supporters and active lifestyle participants for its social media and publishing platform, which provides innovative products and content to enable communities to engage and interact.

Shares in MOKO were unchanged at 13.5 cents each at 2pm.