10th Oct 2018 09:22
LONDON (Alliance News) - City Pub Group PLC confirmed Wednesday it has raised GBP6.2 million in a share placing announced on Tuesday.
The pub owner on Tuesday had said it planned to raise the funds to fund further acquisitions.
It placed 2.8 million new shares at a price of 220 pence each. Shares in London were 1.0% higher early Wednesday at 226.80p.
City Pub Group said the placing, which was run by Liberum Capital Ltd and Joh Berenberg, Gossler & Co KG, was well supported from "high quality" institutional investors.
As part of the placing, Executive Chairman Clive Watson signed up for 68,182 shares, worth GBP150,000. Following this, he now owns 2.6 million shares, 4.3% of the company.
Related Shares:
CPC.L