Shares in SigmaRoc PLC (AIM:SRC) soared over 8% on Thursday after the quarried materials group raised £30mln through a placing of shares at 54p each.
The AIM-listed company's management team actively participated in the structuring and allocation of the fundraising.
Funds will part fund 10 potential near-term strategic acquisition opportunities and four organic growth and carbon footprint reduction projects, SigmaRoc said in a statement.
Taken together, the acquisitions and organic investment projects are anticipated, should they all complete, to generate approximately £42mln of net revenue, £10mln of EBITDA and profit after tax of £6mln on an annualised basis.
Shares in SigmaRoc rose 8.3% to 57.40p in midmorning deals on Thursday.