TruFin raises GP7.6 million through placing and open offer

(Alliance News) - TruFin PC on Monday confirmed that it has raised GBP7.6 million through a placing and open offer.

In June, the London-based financial technology holding company for niche lenders and early payment providers said it wished to raise GBP7 million through a placing and up to GBP1 million in an open offer.

It priced both the open offer and placing shares at 65 pence each, representing a 4.4% discount to the shares closing price on June 22.

TruFin shares were up 0.8% to 65.00 pence each in London on Monday afternoon.

At the the time, the company said the net proceeds will be used to invest in Playstack to secure the Mortal Shell franchise and provide working capital to the company.

On Monday, TruFin said it has raised GBP7.0 million through a placing of 10.8 million shares, and GBP600,000 through an open offer of 884,514 shares.

Application has been made for 11.7 million new shares to be admitted to trading on AIM. It is expected that the shares will become effective on Tuesday.

By Sophie Rose, Alliance News reporter

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