(Alliance News) - Journeo PLC on Friday said it has raised GBP256,875 before expenses through a share placing.
The information systems and transport technical services company said it issued 513,750 shares at a price of 50 pence each.
The stock was untraded in London on Friday, last closing at 48.15 pence a share, giving it a market capitalisation of GBP4.1 million.
Journeo said the placing was driven by investor interest and the proceeds will be used to strengthen the cash position of the company.
Following the admission, the company said it will have 8.7 million shares overall.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Journeo (JNEO)