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Frontier IP raises £3mln through oversubscribed placing

The placing was over-subscribed. The money raised will go into the Frontier war chest.
£20 notes
The funds will accelerate the group's growth

Intellectual property commercialisation firm Frontier IP Group Plc (LON:FIPP) has raised £3mln through an oversubscribed placing of shares at 40p each.

The placing price compares with last night's closing mid-market price of 48.5p.

The group said the funds raised would be used to accelerate the company's growth, and to develop and expand its resourcing in areas of key activity.

"We are delighted to announce the successful completion of this fund-raising, which was over-subscribed, and welcome the support of both existing and new investors,” said Neil Crabb, chief executive officer of Frontier IP.

“Frontier IP is now well-positioned to accelerate its growth through the development of its existing portfolio and the identification and development of new opportunities in the UK and beyond," he added.

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