Digital marketing specialist Mporium Group PLC (LON:MPM) has raised £2.3mln by issuing shares at a premium.
Existing investors subscribed for 46mln shares for which they paid 5p apiece – 11% above Tuesday’s closing price of 4.5p.
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“The net proceeds of the subscription (being approximately £2.2mln) will be used to provide working capital and to support the continued momentum of the business,” read a brief statement on Wednesday.
The private investment firm and major shareholder Charles Street snapped up another 15.5mln shares to take its overall stake in Mporium to 17.31%.
“The group continues to make strong progress,” said chief executive Nelius de Groot.
“We are delighted that our shareholders share our strategic vision for the business and would like to thank our shareholders for their continued support.”