IN BRIEF: Frenkel Topping to raise GBP10 million via placing

Frenkel Topping Group PLC - Manchester-based professional and financial services firm focused on asset protection - Intends to raise GBP10 million through share placing of up to 14.3 million shares at a price of 70 pence per share.

FinnCap will act as the sole bookrunner in the placing, and the proceeds will go towards funding three acquisitions currently in due diligence and targeting new acquisitions in the fragmented pre-settlement professional services market.

Placing is expected to take place through two tranches. Placing price of 70 pence is at a 10% discount to the closing price on Monday at 77.50 pence.

Current stock price: 78.56 pence

12-month change: up 35%

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

Frenkel Topping