Equals Group confirms ?16m fundraise for growth and acquisitions

(Sharecast News) - Equals Group was forced to respond to press speculation with regard to capital raise on Wednesday, confirming it was in the "advanced stages" of conducting a fundraising in the region of £14m at a price of 110p per ordinary share.
The AIM-traded firm said it would help it to accelerate organic growth, and to fund potential acquisitions.

"The directors intend to offer an additional £2m of any such fundraising to existing shareholders of the company, on a pre-emptive basis, through an open offer on the same terms," the board said in its statement.

"A further announcement on the potential fundraising will be made in due course."