LONDON (Alliance News) - GLI Finance Ltd on Wednesday said it has subscribed for new preference shares issued by majority-owned subsidiary Platform Black Ltd.
GLI, which invests in alternative finance platforms for smaller companies, will spend GBP5.0 million on acquiring 5.0 million new preference shares in the unit, in which it owns an 84% stake.
Platform Black is an online finance marketplace for smaller companies in the UK.
GLI shares were up 0.5% to 32.15 pence Wednesday morning.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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