European Wealth raises £2m towards ISM Solutions acquisition

The firm raised the capital from new and existing investors by placing 2.5 million shares at a discounted price of 80p each. The company intends to use the capital to fund elements of the initial payment for ISM Solutions. It will hold an extraordinary company meeting on 12 June.   Acquisition trail The acquisition forms part of the firm's growth strategy of acquiring smaller businesses. The newly placed shares - sold at 9.6% below the latest share price of 88.5p -represent 11.3% of the firm's total share capital and will deliver £1.9m net proceeds. Some of the cash will...