5th Jun 2015 09:32
LONDON (Alliance News) - RapidCloud International PLC said Friday that it has raised GBP1.7 million through a share subscription for 3.2 million shares at 54 pence each with Southeast Asian asset management firm Corston-Smith Asset Management.
Shares in RapidCloud are trading up 0.8% at 40.33 pence Friday morning.
The company said it plans to use the proceeds to enhance its product suite, to continue to invest in its sales and marketing, and complete select strategic acquisitions.
"The backing of us by one of Southeast Asia's prominent fund managers is a significant vote of confidence in our business and strategy. We very much look forward to delivering shareholder value with the backing and support of such a quality investor," said Managing Director Raymond Chee in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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