City of London Group places 1.84m shares

Investment company City of London Group has placed just under 1.84m new ordinary shares at 70p each - a premium to the net asset value - representing 10 per cent of the current shares in issue.

Investment company City of London Group has placed just under 1.84m new ordinary shares at 70p each - a premium to the net asset value - representing 10 per cent of the current shares in issue.

The placing raised just under £1.286m before costs, which will be used to develop the company's existing business platforms, for working capital and to invest in new opportunities as they arise.

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