Sports nutrition products supplier Science in Sport is raising £2.3m in order to finance the growth in sales.
Science in Sport will also use the cash, which is being raised at 45p a share, to invest in its online operations as well as a mobile version. The company has made a commitment to appoint another non-executive director following the placing.
Revenues grew by 24% to £6.84m in the year to March 2014, which is faster than expected. High street and online sales have both grown.
Shimano will begin selling the company’s products in eight European markets at the beginning of May.
At 49.25p a share, up 3.75p a share, Science in Sport is valued at £12.1m.
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