CentralNic raises £2.3m in placing to improve balance sheet

Internet platform CentralNic Group has raised £2.3m through a placing of shares to strengthen its balance sheet.The group issued 5.75m shares at 40p each, bringing in £2.3m before expenses. The raising represents a premium of 16% to the current share price.CentralNic has been focusing its strategy in the developing markets and in the inventory of top-level domains (TLDs). It said new acquisitions have been becoming available for each of its wholesale, retail and enterprise business divisions.Chief executive Ben Crawford said the money raised will be used to grow its strategy in a period of "unprecedented change to the internet".Crawford added: "The group looks to continue on its growth path and to increase its portfolio of TLDs, to grow revenues and profits."N+1 Singer's Alex Hardwicke said the placing may dive some interest in Minds + Machines, which, according tothe broker, has been strong recently.Shares were up 7.25% to 37p on Wednesday at 09:16.