Bisan Limited (ASX:BSN) directors have increased their respective investments in the company through participation in the $785,515 two for three rights issue priced at $0.005 per share.
The company had raised the full amount it sought under the rights issue, which is part of a broader $1.1 million capital raising.
Chairman Patrick Volpe acquired 10 million shares for $50,000, bringing his direct and indirect interests up to 25 million shares.
Non-executive director David Herszberg acquired 3,866,666 shares for $19,333.33 while non-executive Avrohom Kimelman subscribed for 8,793,333 shares worth $43,966.67.
Herszberg now has a direct and indirect stake of 9,666,666 shares while Kimelman has 22,738,922 shares.
Bisan is advancing its second hand smartphone trading business in Hong Kong.
This targets smartphone trade-in market which is forecast to expand from 53 million units per annum in 2013 to 257 million units per annum by 2017.
Traded-in smartphones are professionally graded and categorised to most efficiently meet consumer demand for affordable regenerated second hand smartphones.
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