(Alliance News) - Bonhill Group PLC on Wednesday said it will raise GBP4.8 million through a tender offer of 48.0 million shares at 10 pence each.
Bonhill is a Woking, England-based media company, specialising in business information, events and data analytics.
Shares in the company closed down 4.4% to 5.74 pence each in London on Wednesday.
On May 24, Bonhill said it will sell InvestmentNews LLC to Key Media Business Information US Inc for a total of USD4.1 million.
This came after it received an offer from KM in March. The US-buyer will also assume InvestmentNews's obligations under its office lease until January 2028.
KM is a Colorado-based magazine publisher.
The company said that its GBP4.8 million tender offer will take place if the disposal if approved by shareholders.
Following the close of the tender offer, Bonhill also hopes to cancel its shares, and re-register as a private limited company.
It will hold a general meeting on June 23.
By Sophie Rose; Alliance News reporter
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