Technology investement firm SEED Innovations Ltd (AIM:SEED, OTC:FFRIF) rose 5% after announcing it had completed the sale of subsidiary Leap Gaming to existing investor IMG.
Under the agreement, AIM-listed SEED will get US$5.8mln over the next two years, which it has earmarked for future investment.
“The initial cash proceeds, and the balance paid on the 12-month anniversary of completion, provides us with liquidity at a time where we are seeing some very promising investment opportunities,” chief executive Ed McDermott said.
Shares rose 5.5% to 2.3p, before slipping to 2.1p, up 2.5% on Tuesday’s opening.