Tungsten said the talks should not have an impact on its invoice financing operations. TUNGSTEN announced £ 15mn equity raising , via a firm and conditional share placing . The firm placing consists of 5mn new shares to be sold at 43.8p 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 development . It also said it is currently in discussions on a proposed JV with an unnamed global financial institution , and that it is actively exploring strategic options for its Tungsten Bank business . It is also in talks with the PRA re the future of its operations and ownership of the business .
TUNGSTEN announced £ 15mn equity raising , via a firm and conditional share placing . The firm placing consists of 5mn new shares to be sold at 43.8p 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 development . It also said it is currently in discussions on a proposed JV with an unnamed global financial institution , and that it is actively exploring strategic options for its Tungsten Bank business . It is also in talks with the PRA re the future of its operations and ownership of the business .