Kitwave Group PLC (GB:KITW) has released an update.
Kitwave Group PLC successfully raised £31.5 million through a combination of a Placing and Retail Offer, issuing new shares that represent 14.7% of its pre-offer share capital, at a 3.9% discount to the pre-announcement closing price. The proceeds from this capital raising effort are being used to partially fund the acquisition of Creed Catering Supplies Limited, with the rest of the funds coming from increased banking facilities. The offer also included provisions for retail investors to participate on equal pricing terms through the PrimaryBid platform.
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