Porta Communications raises £1.5m in advance of office move

Porta Communications, the AIM-listed owner of Newgate Communications, has raised £1.5m ahead of a 2014 office move.

The company has raised approximately £1.5m (before expenses) after placing of 11,538,462 new ordinary shares of 10 pence each at a price of 13 pence per ordinary share with certain institutional and other investors.

The purpose is to raise funds to be used as a deposit, worth approximately £1m, for new offices in central London. The company believes the relocation will provide extra capacity as it continues to implement its expansion strategy.

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Already registered?
Sign in