ViaLogy places shares at steep discount

ViaLogy, a service provider to global oil and gas exploration and production companies, has boosted its working capital after raising funds through a placing of 100m shares.The company has raised £1.05m after the shares were placed with existing and new investors at 1.05p each, a 0.45p discount to the mid-market closing price on the day before the placing announcement..Following the placing, the total number of ordinary shares in issue is 852m shares. The announcement saw the penny stock's share price plunge 33% in early trading to a 52-week low 1.05p, before recovering to the previous night's closing value of 1.5p. NR