Mporium raises £3.1m in placing

Mobile commerce specialist Mporium announced on Wednesday that it has raised £3.1m before expenses through a placing of 41,379,008 ordinary shares of 0.5p each, at a price of 7.5p per placing share, from a combination of new and existing shareholders.

The AIM-traded company said the proceeds of the placing will be used to continue the company’s ongoing product development, which is progressing as planned, as well as its growth strategy and for working capital purposes.

“The placing price of 7.5p per share represents a 4.82% discount to the closing middle market price of 7.9p per ordinary share on 29 June, being the last business day prior to this announcement,” Mporium’s board said in a statement.

“N+1 Singer is acting as sole broker for the company in connection with the placing.”

Mporium said application would now be made for the placing shares to be admitted to trading on AIM, and subject to shareholder approval the admission is expected to take place on 19 July.