LONDON (Alliance News) - Gresham House PLC on Friday said it completed the acquisition of Livingbridge VC LLP and closed the placing, raising GBP11.7 million.
Earlier in November, the asset manager proposed an acquisition of investment company Livingbridge for up to GBP40 million. Gresham intended to fund the purchase through the allotment of 1.6 million shares to Livingbridge, a new credit facility, and a placing of 2.6 million shares at a price of 448 pence each.
Gresham shares were trading down 1.0% on Friday at 490.00p each.
On Friday, the company said it completed the acquisition, placing and allotment.
Following the admission, Gresham has 24.8 million shares overall.
