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Sosandar PLC - Cheshire, England-based online women's fashion brand - Proposes placing of 26.2 million shares at 20 pence each to raise GBP5.3 million. In addition, there will be an offer of 2.5 million new shares to raise further gross proceeds of up to GBP500,000 - to be made by the company via the PrimaryBid platform.
In addition, says one of the company's directors intends to subscribe for 150,000 shares at same price. Sosandar intends to use proceeds to capitalise on the growth opportunity with its third party retail partners where currently on average only 9% of Sosandar's total product range is available for sale. In particular, focus will be on investing in stock from the autumn and winter 2021 season onwards, it adds.
Current stock price: 20.00p
Year-to-date change: up 19%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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