ASF Group's (ASX:AFA) rights issue closed oversubscribed raising...

ASF Group's (ASX:AFA) rights issue closed oversubscribed raising $10,056,629, with an over-subscription of 6,627,188 shares above the total.

The pro-rata non-renounceable 1 for 8 rights issue closed on Thursday, 31 July 2014.

Total received applications from eligible shareholders for entitlements was for 39,433,711 new shares, totalling $7,098,068 and applications under the shortfall facility for 23,063,639 of shortfall shares, totalling $4,151,455.

The company said it will accept in full all eligible shareholders applications including all shortfall applications except for part of the shortfall application from a director of the Company whose applications for shortfall shares was scaled back at the company's discretion.

The allotment of the New Shares will be completed on Thursday, 7 August 2014.

Given the offer was oversubscribed, no new shares are required to be taken up by the underwriters of the offer.

The company finished the June quarter with $2,502,698 at bank.