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Nektan extends placing to raise £5mln

The firm said it had received sufficient interest to meet its original goal of £3mln and would extend the end date to 18 October to reach the higher target

Nektan PLC - Nektan extends placing to raise £5mln

Nektan PLC (LON:NKTN) will extend a share placing to raise £5mln following increased interest from investors.

In an announcement late on Wednesday afternoon, the online gaming technology firm said it had received sufficient interest to meet its original target of £3mln and would now extend the placing period to 5pm on 18 October to try and reach £5mln, although it said it may close the placing earlier than this.

READ: Nektan looks to strengthen balance sheet as B2B shift gains traction

The placing forms part of a capital restructuring, originally announced in September, as the firm looks to strengthen its balance sheet while integrating new clients across Asia and Africa, revenues from which it expects will have potential to “transform the group's financial results”.

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