Richoux Group raises £1.7m in equity

22nd Dec 2016 08:22

(ShareCast News) - AIM-listed restaurant company Richoux Group has raised £1.69m in equity for general working capital.The company, whose brands includes Villagio Ristorante, Dean's Diner and Zippers, raised the funds through a subscription of 6.77m shares of 4p each, which were sold at 25p per share.The new shares are expected to trade on Thursday, and following admission to AIM the company will have 99.34m shares in issue and a market capitalisation about £24.8m.Chief executive Jonathan Kaye was one of the investors who take part in the paling. He subscribed for 1.35m shares at 25p each, along with executive Mehdi Gashi who subscribed for 400,000 shares.Shares in Richoux Group were up 1.85% to 27.50p at 0847 GMT.