GSTechnologies Ltd - Milton Keynes, England-based provider of wireless, electronic cabling, security, and other services to clients in infrastructure development - Unveils GBP1.4 million placing of 141.5 million new shares at 1 pence each, arranged by Optiva Securities Ltd. New shares to account for 17% of enlarged share capital. Hopes to develop its existing information and communications technology and internet of things offerings that serve governments and private organisations, as well as range of fintech services using blockchain technology.
"I am delighted to announce this successful fundraising and welcome a number of new shareholders to GST. The placing will provide funds for us to progress our fintech plans, in particular in conjunction with our collaboration partner, Wise MPay. I look forward to providing further updates in due course as we seek to rapidly build a blockchain enabled neobanking business," says Chair Tone Goh.
Current stock price: 1.25 pence, down 31% on Monday
Year-to-date change: up sharply from 0.14p on December 31
By Josie O'Brien; josieobrien@alliancenews.com
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Gstechnologies (GST)