(Alliance News) - Online retailer MySale Group PLC on Monday said it has completed the previously announced GBP2.1 million open offer of 102.9 million shares at 2 pence per share.
London-listed shares in the company were down 10% at 2.61 pence each.
The share open offer is a part of a wider fundraising effort by the company to become debt-free and refocus on Australia and New Zealand retail marketplace.
In August, the company revealed details of a fundraising which included at least GBP10 million capital raise via a share placing and a further GBP2 million via open offer.
MySale, however, raised GBP11.2 million from share placing, with senior executives including outgoing Executive Vice-Chair Jamie Jackson and Chief Executive Carl Jackson participating in the share placing. Jackson has decided to step down after the company's next general meeting.