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(Alliance News) - Boku Inc on Thursday said it has raised GBP20.1 million from the share placing it announced late Wednesday, which will be used to fund its acquisition of Fortumo Holdings Inc.
The company placed a total of 23.6 million shares at a placing price of 85 pence each, representing a 7.1% discount to Wednesday's closing price of 91.50p.
The stock closed up 8.2% at 99.00 pence on Thursday.
Boku said late Wednesday that it had agreed to buy Fortumo for up to USD45 million, which would be funded via a share placing and by drawing down its new bank facilities. It said at the time that the fundraising would be via a bookbuild process run by Peel Hunt LLP.
Fortumo provides mobile payment solutions to over 400 small-to-medium sized enterprises, as well as e-commerce giants such as Alphabet Inc's Google, Amazon.com Inc and Tencent Holdings Ltd.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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