7th Sep 2015 13:56
LONDON (Alliance News) - International Public Partnerships Ltd on Monday said it has raised GBP18 million in a tap issuance of shares.
The company raised the funds by issuing 13.4 million new shares at 134 pence per share.
"We are delighted to announce that the company has raised GBP18 million through a placement today, with the Issue being oversubscribed. The net proceeds will be used to reduce the drawn element of the company's debt facility and to enable the company to complete on the strong pipeline of short and medium term opportunities," Chairman Rupert Dorey said in a statement.
The news means the company has raised the full amount it had intended.
Shares in the company were up 0.6% at 134.30 pence on Monday afternoon.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
International Public Partnerships