(Alliance News) - E-banking and payments firm Equals Group PLC confirmed Wednesday it raised a combined GBP14.3 million through a placing and open offer.
Equals - known as FairFX Group PLC until late June - confirmed it received valid applications for 246,173 open offer shares, raising GBP270,790. The firm was hoping to GBP2.0 million through the open offer.
In mid-August, Equals was able to raise GBP14 million through the issue of 12.7 million shares at a price of 110 pence per share via a placing. The placing and open offer were priced the same.
The company was hoping to raise a combined GBP16.0 million from its placing and open offer but will have to settle for just under GBP14.3 million.
Equals said the proceeds will go towards accelerating its growth plans, which could include "further strategic acquisitions".
Shares in Equals were 0.9% lower in London on Wednesday afternoon at 102.00 pence each.
Equals Gp (EQLS)