Unless they specify what the funds raised will be used for then...

Unless they specify what the funds raised will be used for then the cynic could very well conclude that this is the best sp that GMV will be for the coming months. It would have been pointless waiting until they 'need' the money when the sp could very well be south of 5c in the coming weeks prior to a CR.

The upside would be that they are doing a CR to bolster the cash reserves before a 'potential' US listing, it's always good to have cash in the bank when you intend to list it inspires confidence in potential investors that the board are managing their funds well.

I'm neutral on this CR with a slight hint of suspicion about the motive.