Daniel Stewart raises £1.2m in subscription

25th Jun 2015 10:01

Daniel Stewart Securities said on Thursday that it has raised £1.2m through a cash subscription from institutional and other investors, which will be used for general working capital purposes.The company will issue 35.8m shares at 3.35p and noted that there was sufficient demand to increase the offering from the originally-announced £1m fundraising.Application has been made for the admission to trading on AIM of 35.8m new shares, with trading expected to become effective on 1 July 2015.At 10:05, shares were up 40% at 2.90p.