Kitwave Group PLC (GB:KITW) has released an update.
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Kitwave Group PLC has announced a Retail Offer to raise up to £0.5 million by offering new ordinary shares at a discounted price through PrimaryBid, targeting both existing shareholders and new investors with a minimum subscription amount of £250. The capital raised will support the £60 million acquisition of Creed Catering Supplies Limited, with additional funds earmarked for general working capital. The offer, part of a larger capital raising effort to secure £31.5 million, is expected to conclude on 24 September 2024, with trading of the new shares to commence shortly after.
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