Phorm Corporation raises funds to boost capital

27th Mar 2014 14:57

Phorm Corporation has placed more than 90m new ordinary shares at a price of 11p to raise about 10m pounds before expenses.The internet personalisation technology company said it plans to use the proceeds to boost its capital reserves. The placing shares will represent about 14.65% of the group's enlarged issued ordinary share capital.Shares rose 5.68% to 11.62p at 14:59 on Thursday.RD