4th Nov 2014 16:26
LONDON (Alliance News) - AfriAg PLC said Tuesday that it has raised GBP300,000 through a share subscription of 75 million new shares, equivalent to 5.4% of its enlarged issued share capital, at a price of 0.4 pence each.
Shares in AfriAg were trading down 4.0% at 0.480 pence Tuesday.
AfriAg said it will use the proceeds to fund the expansion of its AfriAg Marketing African seafood business, which is currently seeing strong growth in Asia, to strengthen its balance sheet and provide additional working capital.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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Afriag Global