Network Card raises $460K in rights issue

West Perth-based Network Card Ltd has closed its non renounceable rights issue fully subscribed, raising $460,000 to help it expand its Business to Business and Business to Consumer clientele.

Network Card is a point-based loyalty program, operating through St George Bank EFTPOS terminals

The company offered 7.6 million new shares at an issue price of 6 cents, distributed to exisitng shareholders on a one for one basis.

The offer was partially underwritten by Marketech Pty Ltd.