CTM raises $10m for acquisitions

CTM raises $10m for acquisitions
By admin

Corporate Travel Management (CTM) has raised $10 million through a share placement with institutional investors as the company continues to explore acquisitions.

The firm completed a placement of 2.44 million shares at $4.10.

Managing director Jamie Pherous, pictured, said growth through acquisition, as well as organic expansion, were "key drivers" to the business.

"CTM continues to actively look at acquisition opportunities to grow our business and meet our clients' needs and is currently investigating a number of expansion opportunities," he said.

It also emerged that Pherous sold 3.6 million shares in conjunction with the placement. He continues to hold approximately 31% of the total shares in the company.

Email the Travel Weekly team at traveldesk@travelweekly.com.au

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