Payments firm zipMoney is seeking to raise up to $20 million in an institutional placement through Bell Potter Securities.
Bell Potter launched the deal on Thursday morning, seeking bids at 55¢ a share.
The offer was priced at a 21.4 per cent discount to the last close and implied a $104.7 million market capitalisation.
zipMoney was seeking to place up to 36.4 million shares, worth $20 million at the offer price.
The funds were to be used to reduce the cost of its loan book.
The broker was seeking bids by 4pm Thursday.
Payments firm zipMoney is seeking to raise up to $20 million in...
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