7th Jul 2016 07:59
LONDON (Alliance News) - Financial services software provider Lombard Risk Management PLC on Thursday said it has raised a further GBP300,000 in the open offer portion of its recent fundraising.
Having already raised GBP8.0 million via a share placing, Lombard said it had raised another GBP300,000 from the open offer portion of the fundraising, issuing 3.4 million shares at 8.75 pence per share. That represents a take-up of 39% for the open offer.
Shares in Lombard were down 3.0% to 8.00 pence.
The proceeds will be used to develop and accelerate Lombard's product portfolio and extend its product development capabilities.
By Sam Unsted; [email protected]; @SamUAtAlliance
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