Equals Group confirms £16m fundraise for growth and acquisitions
Equals Group was forced to respond to press speculation with regard to capital raise on Wednesday, confirming it was in the “advanced stages” of conducting a fundraising in the region of £14m at a price of 110p per ordinary share.
The AIM-traded firm said it would help it to accelerate organic growth, and to fund potential acquisitions.
“The directors intend to offer an additional £2m of any such fundraising to existing shareholders of the company, on a pre-emptive basis, through an open offer on the same terms,” the board said in its statement.
“A further announcement on the potential fundraising will be made in due course.”