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TMT Investments PLC - venture capital investor in high-growth technology companies - Intends to raise USD18.5 million through a placing and subscription of 2.2 million shares at a price of USD8.50 per share.
Issue price reflects a 7.6% discount to the closing price on Thursday at USD9.20. Cenkos Securities is acting as lead broker and bookrunner.
TMT is also offering 187,470 shares at the issue price to raise USD1.5 million maximum through the PrimaryBid platform.
Proceeds from the fundraise will go towards the company's pipeline of new and potential follow-on investments.
Current stock price: USD8.70, down 5.4% on Friday
Year-to-date change: up 9.1%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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