Everyman Media Group PLC (LON:EMAN) rose on Wednesday after announcing it raised £17.5mln through an oversubscribed share placing.
The high-end cinema chain placed 17mln shares at 100p each, a 7% discount to Tuesday’s closing price. It represents 19.2% of the AIM-listed firm’s issued capital.
Majority shareholders Blue Coast Private Equity and BlackRock acquired 3mln shares each and will own 19% and 12% of the company respectively once the transaction is completed.
The proceeds will be used to cope through the coronavirus crisis if lockdown measures are extended to the summer, as well as continuing with the expansion programme once possible.
Shares jumped 12% to 120p on Wednesday afternoon.