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(Alliance News) - Marlowe PLC on Friday announced it has raised GBP100 million in a share placing in order "to capitalise on acquisition opportunities".
The London-based safety & compliance services firm launched the 14.5 million placing on Thursday, which was "significantly" oversubscribed and priced at 690 pence per share.
Shares in Marlowe were up 1.6% at 700.80p in London on Friday.
Marlowe said the placing proceeds will provide it with "significant additional resources with which to capitalise on acquisition opportunities in the short to medium term, and are expected to be deployed by the group into accretive acquisitions over the next six to twelve months." It added it has a "buoyant" pipeline of acquisition opportunities and is currently in active discussions with more than 50 potential targets.
Cenkos, Berenberg and Goldman Sachs acted as lead bookrunners in relation to the placing, and Stifel acted as bookrunner.
By Zoe Wickens; zoewickens@alliancenews.com
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