Updates

Equals Group - Placing and open offer to raise Â£16m

September 2019

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Equals has announced a placing to raise £14m together with an open offer on a 1-for-90 basis to raise £2m, both at 110p a share. The £16m raised (before costs) will give it firepower to make acquisitions and accelerate the development of its corporate product. Several bolt-on acquisition opportunities have been identified, which are typically smaller FX businesses that may be struggling due to an increasing regulatory burden and limited access to liquidity given relative lack of scale. For example, it has just bought the international payments business HermexFX, part of the FXPro Group, for £2m. Equals has also identified a significant growth opportunity for Equals Spend where it plans ...

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