Fonix Mobile PLC (GB:FNX) has released an update.
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Fonix Mobile PLC, a leading mobile payments and messaging provider, has announced a secondary placing of no fewer than 4,444,444 shares at 225 pence each, aimed at meeting strong institutional demand. Directors and key shareholders are capitalizing on the company’s growth by selling a portion of their holdings, while the company itself may buy back up to 1 million shares. The transaction, managed by Cavendish Capital Markets Limited, will be executed through an accelerated bookbuild process.
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