QPP flush with cash after equity placing

Quindell Portfolio, which provides software for the insurance and telecoms industry, said a successful equity placing and additional loan facility meant it had around £80m of working capital to play with.

Quindell Portfolio, which provides software for the insurance and telecoms industry, said a successful equity placing and additional loan facility meant it had around £80m of working capital to play with.

The news pushed shares up 6.3% in morning trading after the company said it would use the proceeds to fund working capital requirements for "significant organic growth" that would come from ongoing and future contracts.

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