15th Mar 2019 15:08
LONDON (Alliance News) - INTOSOL Holdings PLC on Friday said it has raised EUR250,000 to fund the continued development of its portfolio of owned and managed boutique hotels in South Africa.
The luxury travel company said it issued 789,500 shares following an admission of which its share capital will increase to 12.3 million shares.
Intosol shares were trading 9.1% lower on Friday at 35.00 pence each, giving it a market capitalisation of GBP4.4 million.
The company said it is actively looking to expand its portfolio and is seeking new opportunities.
"We are actively developing the business, particularly the SOUL Private Collection in South Africa," said Executive Chair Rainer Spekowius.
"We are in active negotiations over a number of properties and look forward to providing and update as developments are made over the coming weeks," added Spekowius.
Related Shares:
INTO.L