Plant Impact out to raise £4m in share placing

Crop enhancement company Plant Impact is bidding to raise about £4m with a share placing on the AIM from existing and new investors.

Peel Hunt has put on offer 12,903,225 new Ordinary Shares at 31p, representing 15.5% of the share capital of the company.

Last week the company said the launch of its flagship soybean product in Brazil was likely to boost its full-year revenue from £7.2m to up to £9m.

The company which specialises in crop enhancement R&D said this was as a result ongoing discussions on a deal to market the product Veritas struck with Bayer CropScience Brazil.

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