Parsley Box looks to raise funds for growth strategy

Meal delivery firm Parsley Box said on Thursday that it was looking to raise up approximately £5.9m by way of an equity placing and a further £1.1m via an open offer to qualifying shareholders in order to fund its growth strategy.

Parsley Box stated it was looking to launch a placing and subscription at a price per share of 20.0p, with directors and associates intending to provide a total of roughly £4.2m to the fundraising.

The AIM-listed group, which noted that the issue price represented a premium of approximately 11.1% to its closing share price on 9 March, said the placing was part of an effort to raise funds to develop its growth strategy of targeting new customer acquisition, developing a membership programme and strengthening its balance sheet and general working capital.

Parsley Box added that its growth strategy was designed to increase revenues from high-quality customers which will aid it in achieving underlying earnings profitability.

As of 0840 GMT, Parsley Box shares had shot up 21.33% to 21.84p.