AssetCo to raise £6.4m as trading performance continues
Thursday, February 07, 2008
Managed services group AssetCo is raising £6.4 million before expenses to fund corporate development and possible bolt-on acquisitions.
In a market update today, the company said it was placing up to 3,359,932 new ordinary shares of 25 pence each. The placing, which has been fully underwritten by Hoare Govett and Kaupthing Singer & Friedlander Capital Markets, will be the subject of an accelerated bookbuild.
Elsewhere, AssetCo said its trading performance for the third quarter was in line with expectations and that thee Board “continued to view the group's prospects with confidence”.
On 29 November 2007 the company announced its interim results for the six months ended 30 September 2007. These showed pre tax profits up by 213% to £4.7 million and EBITDA of £11.6 million.
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