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IQGeo Group PLC - Cambridge, England-based software company - Places 6.8 million shares at placing price of 78 pence each, to raise gross proceeds of GBP5.3 million to help fund OSPInsight International Inc purchase.
"The proceeds of the fundraising will enable us to build on that momentum by funding the acquisition of OSPI which represents a significant and compelling opportunity for the group to expand its presence internationally in key global markets and to build on our platform for future growth," said Chief Executive Richard Petti.
Current stock price: 82.00 pence
Year-to-date change: up 46%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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