LONDON (Alliance News) - Primorus Investments PLC on Thursday said it has invested a further AUD51,000, or GBP27,707, in Fresho Pty Ltd as part of a placing, in order to maintain its stake at 3.4%.
The company bought a further 107,244 shares in Fresho at AUD0.475 each. It now owns 1.4 million Fresho shares.
Fresho is a technology company whose software connects food businesses for fresh produce deliveries.
The proceeds of the capital raise will be used by Fresho to accelerate its international growth.
"Recent investigations into Asian and North American markets were very positive and Fresho has decided to use these funds to scale-up in order to meet the potential demand by localising the platform for these markets and growing the client on-boarding team," Primorus explained.
Primorus Director Alastair Clayton said the company was "really pleased" with Fresho's expansion plans.
Primorus Investments shares were trading down 3.3% at 0.10 pence each on Thursday.
Primorus Inv. (PRIM)