IN BRIEF: Shares in defence consultancy RC Fornax up 7% on AIM debut
5th Feb 2025 12:10
RC Fornax PLC - Bedford, England-based consultancy for defence sector - Shares rise on first day of trading on AIM in London. RC Fornax raises GBP6.2 million, as planned, in its initial public offering. Of this, 15.8 million new shares are placed at 32.50 pence, raising GBP5.2 million for the company, which it plans to use to develop artificial intelligence products. A further 3.1 million existing shares are sold at the same price to raise GBP1.0 million for existing shareholders. The stock trades at 34.65p on Wednesday morning in London, up 6.6% from the IPO price. The IPO is led by Strand Hanson Ltd as nominated adviser and Cavendish Capital Markets Ltd as broker. Read More