2ergo raises £3m in placing

NORTH West mobile technology and marketing specialist 2ergo Group has raised £3m in a share placing.

The AIM-listed Salford Quays-based firm has places 2.38 million new shares at 126p per share, a 1.9% discount to yesterday’s closing price of 128.5p.

2ergo said the net proceeds of the fund raising would provide it with additional working capital and the funds to “bring forward certain capital expenditure plans to build on forthcoming opportunities”.
 
Joint chief executive Neale Graham, said: “We are delighted that both existing and new shareholders are supporting our growth strategy. It is fantastic to be in a position to bring forward development to maximise on opportunities that have presented themselves sooner than anticipated.

“2ergo is entering an extremely exciting period in the rapidly expanding mobile market”.

In December 2ergo said it was braced for a surge in demand for its services after investing £5m in technology and hiring new staff.

Last week it hailed its involvement with a Microsoft-led advisory panel, which it has joined as a mobile technology partner.