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Porta Communications PLC announces oversubscribed placing

Friday, 21 Feb 2014 02:00am EST 

Porta Communications PLC:Has conditionally raised 7.0 million Pounds (before expenses) by way of an oversubscribed placing of 53,846,153 new ordinary shares at a price of 13 pence per ordinary share of 10 pence each with certain institutional and other investors by N+1 Singer.He purpose of the placing is to raise funds to be used by the company to implement the next phase of its growth as well as reducing debt (and thereby its interest charge) and improving the ability of the group to develop its income stream. 

Company Quote

-0.25 -4.00%
5:19am EDT