23rd Feb 2015 11:48
LONDON (Alliance News) - GLI Finance Ltd Monday announced a placing of up to 34.5 million new shares at a price of 58 pence per share, funds it said it will use for additional working capital.
If all the shares are issued, GLI, a specialist provider of finance to small and medium sized enterprises, would raise a total of GBP20.0 million. The placing price of 58 pence per share, represents a 6.5% discount compared to GLI Finance share Monday late morning, which were trading at 62.00 pence.
"The funds raised from the placing will enable the group to provide additional capital for the ongoing development of its family of platform businesses, as well as for further direct investment in loans originated by those platforms as deal flow continues to increase," said Chief Executive Geoff Miller in a statement.
The placing is being conducted through an accelerated bookbuild managed by Panmure Gordon UK Ltd.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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