News blog
Freshwater UK
- BY: Andrew Hore |
- POSTED: 16/07/2007 |
PR firm Freshwater UK raised £4m at 85p a share when it joined Aim this morning.
The costs of the flotation were £630,000 so the net proceeds were £3.37m. The company was valued at £9.48m at the flotation price. Freshwater has a regional network as well as having specialist teams. It offers a combination of PR and marketing support services. It plans to develop organically and via acquisition – seven have been made since 2004. The acquired businesses will operate under the Freshwater brand. The cash and the ability to issue more shares will provide the firepower for the purchases. The shares rose to 92.5p on the first day of trading.
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