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LONDON (Alliance News) - Mobile Streams PLC on Wednesday said it raised GBP140,000 via the issue of 40.0 million shares at 0.35 pence each.
Shares in the mobile content retailer were trading 10% lower at 0.36p.
The proceeds of the subscription will be used to finance the working capital requirements of the company as well as facilitating the launch of Mobile Stream's services into Indonesia.
"We are delighted by this increased support from our existing investors. We are excited by the potential to launch our mobilegaming.com games services in the large Indonesian market," Chief Executive Simon Buckingham said.
The new shares are expected to start trading on AIM on March 5, after which Mobile Streams will have 140.8 million shares.