Axiom capital raising falls short

Some 50 per cent of shareholders have passed up Perth-based Axiom Properties Ltd's rights issue, with the company managing to raise $5.7 million from a targeted $11 million.

The company today advised that a total of 71 million shares were subscribed to under the pro-rata non renounceable rights issue, where shareholders acquired five new shares for eight cents each for every two shares.

Under subscriptions totalled 70.5 million shares.