Latest AoFrio (NZX:AOF) News

Small-cap tech trading was split between one huge contract-driven winner and a long list of capital raisings, AI launches and legal worries. Orcoda surged, ClearVue slumped, and Credit Clear fell hard as investors picked between real revenue, fresh funding and rising uncertainty.

AoFrio Limited has successfully closed a renounceable pro-rata rights issue, securing NZ$4.428 million to fund its push into US and European markets and advance AI-driven innovations in cold drink equipment.

AI infrastructure names drove the biggest moves this week, with DXN exploding higher and Stakk extending its run after a new US healthcare contract. Elsewhere, capital raisings, takeover moves and executive changes kept tech investors busy, while several early gap-ups faded as buying cooled.

AoFrio Limited has initiated a 1-for-7 renounceable rights offer at NZ$0.07 per share aiming to raise nearly NZ$5 million. This follows a recent $4.56 million placement and supports an aggressive growth strategy targeting $300 million revenue by 2030.

AoFrio Limited is offering existing shareholders a 1-for-7 rights issue at NZ$0.07 per share following a NZ$4.56 million placement, aiming to raise nearly NZ$5 million to fund growth ambitions.

AoFrio Limited has secured NZ$4.56 million through a share placement to existing investor Wairahi Investments, underpinning a bold strategy to boost revenue growth to 25% annually. A follow-up rights issue will allow current shareholders to participate at the same price.

Big contract wins and fresh capital drove the strongest gains in local tech, led by FirstWave, Megaport and Aristocrat Leisure. Smaller speculative names were less stable, with several gap re-openings losing steam as investors sold into early excitement.

AoFrio’s first quarter revenue plunged 28% year-on-year, weighed down by the loss of a major US motor customer amid tariffs. The refrigeration tech firm is banking on new IoT product launches in Q2 to stabilise sales and improve profitability over 2026.