PRA unveils £ 5mn equity raising plan via a firm and conditional share placing. The placings have been underwritten by The firm placing consists of 15mn new shares to be sold at 5.0 million with the remainder conditional upon shareholder approval. Funds will be invested in its electronic invoice network and early payment business and to fund new product developments. Tungsten also said it is currently in talks on a proposed JV with an unnamed global financial institution, and that it is actively exploring strategic options for its PRA business. It is also in talks with the PRA re the nature of its operations and governance of the bank.
PRA unveils £ 5mn equity raising plan via a firm and conditional share placing. The firm placing consists of 15mn new shares to be sold at 5.0 million with the remainder conditional upon shareholder approval. Funds will be invested in its electronic invoice network and early payment business and to fund new product developments. Tungsten also said it is currently in talks on a proposed JV with an unnamed global financial institution, and that it is actively exploring strategic options for its PRA business. It is also in talks with the PRA re the nature of its operations and governance of the bank.