XCAP raises £905,000 in placing
XCAP Securities, the small, listed wealth management and capital markets broker, has raised £905,000 in a share placing.
The Wilmslow-based firm, which also has a London office, has issued 323,214,285 new ordinary shares at 0.28p each.
It said the cash would be used for general working capital purposes, “as the company continues to execute its corporate strategy”.
The company, which is listed on the Alternative Investment Market (AIM), raised £525,000 in a placing in June.
Chief executive Nitin Parekh said: “On behalf of the board I would like to thank the placees for the confidence they have shown in our strategy. I am particularly pleased that a significant portion of the placing is being taken up by new shareholders, who share our vision for the future.”
The shares will be admitted to AIM on November 13.
