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Kogan Looks To Raise $50M Today Despite Questionable Products

Kogan Looks To Raise $50M Today Despite Questionable Products

Weeks after stumping up cash for the Dick Smith online site Ruslan Kogan who is facing allegations that he has been retailing questionable branded products is today looking to raise a quick $50M.

Kogan who wants tp pocket $15M of the raised money, is hoping investors will stump up $50m by this afternoon as he races to list Kogan.com, the online electronics retailer that is currently being investigated by a major Japanese camera brand for selling several of their products that have questionable parts and serial numbers.

Shares in the ASX candidate have been priced at $1.80 in a deal executed by Cannacord Genuity.

Under the Kogan.com deal, $15m from the raise will be funnelled to the business’s backers.

Broker firm commitments are due by 2pm while institutional investors have until 4pm to submit bids.