18th Feb 2020 13:45
(Alliance News) - Gateley Holdings PLC on Tuesday said that it has completed it share bookbuild and will issue 5.5 million shares at 200 pence each, raising GBP11 million in total.
The stock was trading 1.4% lower at 209.94p each on Tuesday afternoon in London.
Earlier on Tuesday, the legal services firm announced a placing of 4.8 million shares through an accelerated bookbuild to satisfy demand and broaden its investor base. The company subsequently upped the issue to 5.5 million shares due to excess demand.
finnCap Ltd and N+1 Singer Capital Markets Ltd acted as bookrunners to the oversubscribed bookbuild.
"I am delighted that as a result of strong investor demand we have placed 5,500,000 shares with both existing and new shareholders. As a result of the placing, we have increased the free float of the company and have once again broadened our investor base," said Chief Executive Michael Ward.
By Ife Taiwo; [email protected]
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