July 29 (Reuters) - Advanced Braking Technology Ltd ABV.AX :
* Media release- $2.7mln share placement heavily over-subscribed ABV.AX
* Has secured commitments to raise $2.7 million at the effective issue price of
A$0.007 per share
* Under placement, 272 million shares will be issued within company's 15%
capacity to issue without shareholder approval
* Says additional 114 million shares will be issued within the company's 10%
capacity
* Funds received from the placement will be used to fund repayment of $1.4mln
of convertible notes
* Source text for Eikon