4th Feb 2016 08:14
LONDON (Alliance News) - Imperial Innovations Group PLC said on Thursday it is seeking to raise GBP100.0 million through a placing to raise funds which would back its investment plans and accelerate growth.
The investment company said it will issue a total of 23.5 million shares at 425 pence per share through the placing, with 1.2 million issued on Thursday via a clawback arrangement, to existing and new institutional investors.
Imperial Innovations shares were untraded on Thursday, having last traded at 400.00p.
Imperial Innovations said the proceeds will be used to deploy capital into portfolio companies known to the group, increase its stake in existing companies as well as to deploy funds in investment opportunities arising from its involvement in the UCL Technology Fund LP, which provides funding for academic research projects.
By Hannah Boland; [email protected]; @Hannaheboland
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