LONDON (Alliance News) - Alpha FX Group PLC on Wednesday said it completed a GBP20 million fundraising through a share placing to capitalise on current growth opportunities.
The foreign exchange service provider said the placing was conducted by an accelerated bookbuild with Liberum Capital Ltd acting as a sole bookrunner.
The company noted that the placing attracted strong support from high quality institutional investors.
Alpha FX said it placed 3.2 million shares at a price of 620 pence each. The stock closed 1.4% lower on Wednesday at 631.22p per share.
The company said the fundraising will enable the expansion of its forward book, enabling a "significant" increase in the number of FX transactions it can enter into.
Following admission, the company will have 36.6 million shares overall.
