logo-loader

Mporium raises £3.1mln in a well-backed share placing

Published: 08:37 29 Jun 2016 EDT

online_shopping,_sized
Mporium is a specialist in e-commerce.

Mporium Group PLC (LON:MPM), the mobile commerce specialist, said it has raised £3.1mln via a share placing with new and existing investors.

Fresh equity will be issued at 7.5p - only a modest discount to last night’s close of 7.9p and a decent result given the current market volatility.

The cash infusion will be used for “ongoing product development, which is progressing as planned, its growth strategy and for working capital purposes”.

Specifically, money will be ploughed into Mporium’s INSIGHTS and IMPACT products, as well as sales and marketing, in order to accelerate growth.

Major shareholders Robert Keith, Lee Tin Yu and Cxense have all followed their money.

BenevolentAI advances novel ulcerative colitis treatment through Phase 1a trial

BenevolentAI (OTC:BAIVF) chief scientific officer Dr Anne Phelan joins Proactive's Stephen Gunnion with positive safety data from the Phase 1a, first-in-human, clinical study of BEN-8744 in healthy volunteers. Phelan explained that BEN-8744 is a potent, selective PD10 inhibitor, uniquely...

52 minutes ago