ViaLogy, a service provider to global oil and gas exploration and production companies, has boosted its working capital after raising funds through a placing of 100m shares.
The company has raised £1.05m after the shares were placed with existing and new investors at 1.05p each, a 0.45p discount to the mid-market closing price on the day before the placing announcement..
Following the placing, the total number of ordinary shares in issue is 852m shares.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The announcement saw the penny stock's share price plunge 33% in early trading to a 52-week low 1.05p, before recovering to the previous night's closing value of 1.5p.
NR
-
Side hustle tax changes: HMRC reforms could save thousands from filing self-assessment tax returnsThe government plans to raise the tax-free threshold for trading income – here is how it could help your side hustle
-
Return to the office: is working from home coming to an end?More and more employers want their staff to return to the office. Is it a good idea?
