Tekcapital PLC (LON:TEK) said it has raised £925,000 via a share placing to provide additional funding for its portfolio firms and additional working capital.
The IP investment group said it raised the funds through the issue of around 9.2mln new shares at a price of 10p each, a 13% discount to its closing price on Thursday. The shares in the placing will represent around 10.54% of the enlarged share capital.
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"We are pleased to announce the completion of this placing as it will enable us to accelerate the further development of our portfolio companies", Tekcapital’s executive chairman Clifford Gross in a statement.
Tekcapital shares were 5.1% lower at 10.9p in early deals on Friday.