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Wynnstay Group PLC on Thursday said it has raised £10.6 million via a ‘significantly’ oversubscribed placing of 1.9 million shares at 560 pence each.
On Wednesday, the Powys, Wales-based agricultural supplies company announced a £10.5 million fundraise.
It said that Shore Capital Group Ltd would act as sole bookrunner and the shares would be placed at a minimum issue price of 550p per share. This represents a 12% discount to the closing price of Wynnstay's shares on Thursday of 626p, being the last business before the announcement.
Wynnstay shares were down 4.8% to 590.40 pence each in London on Thursday morning.
On Wednesday, Wynnstay said that proceeds from the placing will go towards the redevelopment of the Calne feed facility, and finance future potential acquisitions by the company.
When issued the placing shares will represent around 9% of the company's share capital, it added.
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