Aura Issues 81 Million CDIs for Qoria Shares at 1 to 17.32 Ratio
Qoria Limited has been acquired by Aura Consolidated Group through a scheme of arrangement, with shareholders exchanging their Qoria shares for Aura CHESS Depositary Interests. Aura has also successfully raised US$100 million to support the acquisition, while Qoria prepares for ASX delisting.
- Scheme implemented with 81.3 million Aura CDIs issued
- Exchange ratio set at 1 Aura CDI per 17.32 Qoria shares
- Aura completes US$100 million capital raise
- Multiple Qoria directors resign; new appointments made
- Qoria shares suspended and scheduled for ASX delisting
Scheme of Arrangement Finalised and Share Exchange Executed
Qoria Limited (ASX:QOR) has officially completed its acquisition by Aura Consolidated Group, Inc., marking a significant milestone as all Qoria shares were transferred under a court-approved scheme of arrangement. Scheme shareholders received approximately one Aura CHESS Depositary Interest (CDI) for every 17.32 Qoria shares held as of the record date on 10 July 2026, resulting in the issuance of over 81 million Aura CDIs.
For shareholders holding smaller parcels who did not elect to receive CDIs, a direct cash-out facility has been implemented, with payments calculated at A$5.49 per Aura CDI or roughly A$0.317 per Qoria share. Aura CDIs are set to commence normal trading on the ASX from 20 July 2026, following a period of conditional trading that began earlier in the month.
Capital Raise Strengthens Aura’s Position
Concurrent with the scheme implementation, Aura has successfully closed a US$100 million capital raise, bolstering its financial capacity to integrate Qoria’s technology and operations. While the announcement does not disclose pricing details beyond the total amount raised, this injection of capital is a key enabler for Aura’s growth strategy post-merger.
Board Reshuffle Reflects New Ownership
Following the scheme’s completion, Qoria’s board underwent a significant reshuffle. Longstanding directors including Peter Pawlowitsch, Tim Levy, Georg Ell, Matthew Stepka, Philip Warren, and Dr Jane Watts have resigned. They are replaced by William Lundregan, Stephanie Majteles, and Ben Jenkins, signaling a fresh governance regime aligned with Aura’s vision.
Meanwhile, Aura’s board composition remains consistent with previous announcements, featuring key executives such as Managing Director Hari Ravichandran and Chairman Sujay Jaswa, among others, maintaining continuity as the merged entity advances.
Qoria’s ASX Exit Confirmed
Trading in Qoria shares was suspended on 8 July 2026, ahead of the scheme’s implementation. The company has applied for removal from the ASX official list, with delisting expected to take effect at the close of trading on 20 July. This marks the end of Qoria’s independent public listing, transitioning fully into Aura’s corporate structure.
Bottom Line?
Aura’s acquisition of Qoria is complete, backed by a substantial capital raise, but the true test will be in how the merged entity executes its growth plans and integrates operations post-ASX delisting.
Questions in the middle?
- How will Aura leverage Qoria’s technology to drive growth in the competitive software sector?
- What impact will the new board appointments have on strategic direction and operational integration?
- Will Aura’s US$100 million capital raise be sufficient to fund its expansion ambitions following the acquisition?
