LONDON (Alliance News) - GLI Finance Ltd, a specialist provider of finance to small and medium sized enterprises, said Tuesday that it raised a total of GBP20 million in its recent share placing.
On Monday, GLI Finance announced a placing of up to 34.5 million new shares at a price of 58 pence per share, funds it said it will use for additional working capital. The placing price represented a 6.5% discount compared with GLI Finance's share price of 62.00p late Monday morning.
In a statement Tuesday, the company said it issued all of the 34.5 million shares at the placing price, representing 16.6% of its existing issued share capital.
The placing was conducted through an accelerated bookbuild managed by Panmure Gordon UK Ltd.
GLI Finance shares were up 3% at 61.80 pence Tuesday late morning.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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