Equals Group Plc (LON:EQLS) has confirmed a £16mln fundraise for acquisitions in the business payments market.
Formerly called FairFx, the e-payment services provider said shares would be issued at 110p per share via a £14mln placing and £2mln open offer.
Ian Strafford-Taylor, chief executive, added: "We have been hugely encouraged by the level of support received from new and existing institutional shareholders.
"The group has evolved significantly in recent years with the growth of our corporate offering, strategic acquisitions, which have expanded our capabilities, and being granted settlement accounts with the Bank of England, which has given Equals access to the Faster Payments Scheme.
"The new funds raised will enable us to accelerate our plans for our corporate offering, as we target new territories, and provide the means for further strategic acquisitions.”