Sosandar (AIM:SOS) plc was seen 12% lower on Wednesday following the announcement of a retail offer and proposed £4mln share placing of 18 million additional shares to the free float.
The fashion brand is seeking to raise funds “to capitalise on the opportunities in its markets and accelerate its future growth”.
The proposed placing of eight-million shares will be conducted via an accelerated bookbuild at a price of 22p apiece.
Sosandar shares were changing hands at 23.2p with a market capitalisation of £51.4mln as of midday, February 8.