Craven House Capital raises $3m in share placing

21st Nov 2016 09:21

(ShareCast News) - Craven House Capital has raised $3m in cash through a placing of 240,000 new ordinary shares at $12.50 each to help further execute the company's investment policy.The group said a number of prospective investment opportunities in its target markets are currently under evaluation and it will update the market further in due course.As previously stated, it is continuing its discussions with additional prospective investors about making investments in the company via further subscriptions for new shares.Application will be made for the placing shares, which will rank pari passu with the existing ordinary shares in the company, to be admitted to trading on AIM. It is expected that admission will become effective and dealings will commence on 25 November.At 0926 GMT, the shares were up 13.7% to $8.82.