Mpac Group Announces Major Fundraising Effort

Mpac Group PLC (GB:MPAC) has released an update.

Mpac Group PLC, a global leader in high-speed packaging and automation solutions, has announced a proposed conditional placing to raise £29 million and a retail offer to raise an additional £1 million. The company plans to use the funds to partially finance the acquisition of CSi Palletising, a provider of automation and palletising solutions. The new shares will be offered at a discount and the fundraising is expected to total up to £30 million, with proceeds also potentially directed towards alternative investments or returned to shareholders if the acquisition does not complete.

For further insights into GB:MPAC stock, check out TipRanks’ Stock Analysis page.