DeClout said its initial public offering (IPO) of 31 million new shares at 25 cents each has been fully placed out.
DeClout plans to use $3.6 million out of the gross proceeds of $7.75 million to launch its first Vertical Domain Cloud. It has set aside another $1.5 million for its IT infrastructure services division.
The 31 million new shares represent 15.2% of the company's post-IPO issued share capital.
DeClout will start trading at 9am tomorrow.
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