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Yellow Brick Road raises $7m

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AAP

December 19 2012, 8:40PM

(Reissuing to correct typo in the last para graph)

SYDNEY, Dec 19 AAP - Mark Bouris' wealth management company Yellow Brick Road Holdings Ltd has raised $7 million to help accelerate its growth initiatives.

The company said on Wednesday that the private placement of shares were taken up by Macquarie Bank Ltd, which bought $6 million worth of shares and Coolabah ventures bought the remaining $1 million.

Coolabah is an entity controlled by the family of Christopher Joye, a strategic adviser and director with Yellow Brick Road.

The shares were issued at 40 cents per share.

Yellow Brick Road earlier on Wednesday requested a trading halt and at the time expected shares to resume trading on Friday.

The company's shares rose 4.9 per cent to 43 cents before the trading halt on Wednesday.