Purplebricks raises £50m at 220p/share to fund expansion into US
Shares in online property company Purplebricks are up almost 20% after it raised about £50m at 220p a share to fund its expansion into the US.
FTSE AIM 100
3,595.66
17:08 19/04/24
n/a
n/a
FTSE AIM 50
3,943.93
17:08 19/04/24
n/a
n/a
FTSE AIM All-Share
745.67
17:08 19/04/24
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Purplebricks Group
0.31p
16:30 15/06/23
-3.13%
-0.01p
It said net proceeds were to enable Purplebricks to launch its business in the US, at first by establishing itself in several key states.
The company conditionally placed about 22.73m shares in total to certain existing and institutional investors.
At 10:31 GMT, shares in AIM-quoted Purplebricks were up 18.58% to 268p each.