13th May 2024 18:42
Ondo InsurTech PLC - London-based provider of claims prevention technology for home insurers - Plans to raise GBP3.0 million via a placing to new and existing institutional investors at 14.0 pence per share. Further, proposes to raise GBP1.2 million via open offer at the same price. Terms of open offer are 1 new open offer share for every 10 existing shares. Net proceeds to be used to establish an administration and service support centre in the US; build and expand operations across the US; and provide working capital to finance growth in rollouts.
Current stock price: 15.00 pence, up 3.5% in London on Monday
12-month change: down 7.7%
By Jeremy Cutler, Alliance News reporter
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