16th Jul 2020 10:50
(Alliance News) - S4 Capital PLC on Thursday said it has raised GBP116 million through the issue of 36.8 million shares at 315 pence each.
Shares in the digital advertising & marketing services firm were trading 6.4% higher at 335.00 pence each on Thursday morning in London, giving it a market capitalisation of GBP1.64 billion.
The fundraise comprised a placing of 29.7 million shares at 315p each and the subscription of a total of 7.1 million shares by directors. The placing and subscription shares represent around 7.5% of the company's issued share capital.
Earlier in July, S4 announced a GBP100 million fundraise with the funds expected to "provide flexibility and firepower" to fund further acquisitions. However, the size of the issue was increased due to strong demand.
Following admission, the company will have 527.0 million shares in issue.
By Ife Taiwo; [email protected]
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