5th Aug 2016 07:33
LONDON (Alliance News) - eServGlobal Ltd on Friday said it will issue the remaining 53.8 million shares which were available under its open offer to two existing institutional investors in Australia to raise around GBP15.3 million.
The mobile financial services provider had said in June it was launching an open offer of up to 74.4 million shares at 4.00 pence per share and, on Thursday, said it has received applications for 20.6 million of these shares.
Shares in eServGlobal were down 3.8% at 5.05p on Friday.
On Friday, eServGlobal said it was approached by several institutional investors for the 53.8 million shortfall shares arising from the open offer, and resolved to place the whole of the shortfall shares with two unnamed existing institutional investors in Australia.
eServGlobal said the additional GBP15.3 million will benefit its balance sheet, allowing its core software business to recover and enabling the future growth of its Homesend business.
The additional shares are expected to be admitted to trading next Friday.
By Hannah Boland; [email protected]; @Hannaheboland
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