1st Sep 2015 09:51
LONDON (Alliance News) - Kuala Innovations Ltd on Tuesday said it has raised GBP100,000 in a share placing, a move designed to "assist" the company in making investments, and that it is in "advanced discussions" with an investor to double the amount raised.
In a statement, the company said it has placed 2.0 million new shares at 5 pence each.
The company said it is in talks with a "further single strategic investor" over a placing of up to another 2.0 million shares at the same price.
"A further announcement in this regard will be made in due course," Kuala said.
Shares in Kuala were untraded on Tuesday at 6.25 pence.
By Samuel Agini; [email protected]; @samuelagini
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