15th Jan 2020 18:32
(Alliance News) - EverArc Holdings Ltd on Wednesday said it intends to raise new funds through a placing of up to 6.8 million shares.
The placing price will be determined by way of an accelerated bookbuilding process which commences effective immediately.
The investment company said the proceeds from the placing will go towards the acquisition of a business, or a company. In December, EverArc said it would potentially acquire a North America-focused business, but stopped short of providing specific details in regards to its acquisition strategy.
Shares in the company - which is based in the British Virgin Islands - closed untraded on Wednesday in London at 12.50 pence each.
By Ife Taiwo; [email protected]
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