18th Nov 2015 09:30
LONDON (Alliance News) - Be Heard Group PLC on Tuesday said it will raise GBP5.5 million upon its admission to AIM, having changed its name from Mithril Capital PLC and moved from the London main market, while shares in Softcat PLC were still trading well ahead of their float price as unconditional dealings began.
Be Heard Group will raise GBP5.5 million via the issue of 169.2 million shares at 3.25 pence per share as it starts life on AIM. The company was previously listed on the main market and was known as Mithril Capital, but has changed its name following the acquisition of digital media and analytics agency Agenda 21 Digital Holding Ltd.
Be Heard said 35.4 million of the shares will be issued to the founders of Agenda 21 as part of the consideration for the acquisition.
The shares will be cancelled from the main market and admitted to AIM on Monday next week. Be Heard will have a market capitalisation of GBP10.8 million based on the placing price.
Mithril Capital shares were untraded on Wednesday, having last traded at 3.60p.
Meanwhile, shares in Softcat, the IT infrastructure provider, were trading at 283.90p on Wednesday, well above the company's 240.00p IPO price.
Softcat started conditional dealings on Friday, issuing 63.9 million shares and another 9.6 million as an over-allotment option. It raised GBP153.4 million from the IPO, which could rise to GBP176.4 million if the over-allotment option is exercised in full. The company had a market capitalisation of GBP472.3 million at the offer price, which has now risen to GBP558.7 million.
By Sam Unsted; [email protected]; @SamUAtAlliance
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