Financial services group IFG says it has completed a placing of almost 3.5 million shares in the market place at a price of €2.10 a share. The placing will raise €7.2m before expenses.
The company says it represents 4.91% of its issued share capital. It added that the net proceeds will be used for probable acquisitions.
Yesterday in a trading update, the company said its business in Ireland was being affected by a difficult property market, but its non-property related Irish businesses were performing well.
