Vocus completes $1.9m

Vocus (ASX:VOC) will scale back applications under its $2.00 per share share purchase plan, after receiving subscriptions totalling 3.4 times the offer's size

Wholesale telecom operator, Vocus (ASX:VOC), has completed a heavily oversubscribed $1.9 million share purchase plan.

The $2.00 per share placement, announced in March, closed 3.4 times oversubscribed.

Vocus will proportionally scale back applications for those that applied for over 1,000 shares. Applications for 1000 shares and under will not be affected.

The share purchase plan followed a $13.1 million placement at the same price in a transaction arranged last month.

Vocus is on an expansion drive, having acquired dark fibre operator Digital River Networks for $3.95 million earlier this month, and data centre operator Perth iX for $7 million in March.

VOC shares grew 1.44 per cent during Tuesday's trading to $2.820.

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