LONDON (Alliance News) - PCF Group PLC on Friday said it has raised GBP750,000 through an open offer, following its GBP10 million share placing launched on Wednesday.
Shares in the specialist bank were up 6.3% at 34.00 pence on Friday.
Under the open offer, 2.5 million shares were issued to qualifying shareholders at a price of 30 pence per share. The open offer entailed 1 new share for each 37 shares held.
When added to the 33.3 million shares issued at the same price in the placing, PCF has issued 35.8 million shares overall, raising GBP10.8 million in total.
Proceeds from the share issue will fund continued organic growth in vehicle and asset finance, support and grow the recently acquired Azule business and enable the group's new property bridging finance to grow beyond its initial pilot scheme.
PCF Group now has 250.0 million shares issued overall.
