PUBLICLY listed finance service provider Kontiki Finance Ltd (KFL) has raised a total of $890,276 through a private placement of additional shares to a select group of investors to fund its expansion plans.

The company made the announcement at the South Pacific Stock Exchange (SPX) where it is listed.

The capital raising saw an additional 847,882 KFL shares quoted on SPX this week.

In a statement, SPX said the capital raised will aid KFL’s expansion in the Samoan market.

“The initiative underscores KFL’s commitment to innovation, sustainability and market expansion, while ensuring it remains well-positioned to capitalise on emerging opportunities within the industry,” SPX stated.

“KFL currently holds a market capitalisation of $100,605,689, representing 2.78per cent of the total SPX market capitalisation, with 94,911,027 shares quoted at a price of $1.06 per share on the SPX trading platform.”

The SPX team, it added, was ready to provide guidance to listed entities interested in exploring capital raising options.

“We are equally heartened by entities actively leveraging on the regulatory framework and offering corporate actions benefiting in two-folds, unlocking true value of its “listed” status.”

KFL last traded at $1.06 cents a share when this edition went to press.