Sydney, Australia (ABN Newswire) - Story-I Ltd (ASX:SRY) has successfully raised $1,080,000 (before costs) in a fully subscribed placement of shares with strong support from institutional and sophisticated investors.

Sequoia Wealth Management acted as Lead Manager to the placement.

The issue price under the placement of 6 cents per share represents a discount of 15.96% to the 30 day VWAP. The Placement shares will be issued within the company's 15% placement capacity under ASX Listing Rule 7.1.

The proceeds from the placement will predominantly be used to roll out new stores, grow Story-i's e-commerce platform and working capital.

Commenting on the successful capital raising, Story-I's Non-Executive Director, Michael Pixley, said: "We are now in a strong position to build upon our already significant position in the ASEAN high-end electronic market. We are also very pleased with the interest we received for the capital raising, and we welcome new shareholders to the register."



About Story-I Ltd:

Story-i Ltd (ASX:SRY) specializes in a wide range of Apple Products and its accessories, software and other devices related to Apple. Story-i is a one-stop lifestyle Apple store. Our goal is to have our customers test and experience the latest Apple's products, and to provide in-depth information about the products. Story-i offers training and after sales support for individual and enterprise customers. Stay tuned for our interesting promotions and events. We concentrate on opening stores across Indonesia where mining, oil and gas, and other industries play major role in surrounding the area.



Source:

Story-I Ltd



Contact:

Michael Pixley
Non-Executive Director
+61 (0) 405 749 322 
mpixley@story-i.com

Faris Habib
Investor Relations
+61 (0) 422 076 629
faris@nwrcommunications.com.au