Craneware Plans Bumper Placing As It Eyes Acquisition Opportunities

(Alliance News) - Healthcare software firm Craneware PLC on Tuesday said it is planning to raise ...

Alliance News 11 August, 2020 | 5:16PM
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(Alliance News) - Healthcare software firm Craneware PLC on Tuesday said it is planning to raise GBP80 million to fund potential acquisitions.

The placing shares are expected to represent about 20% of its entire capital, Craneware noted.

The stock closed 1.2% lower at 1,705.00 pence each in London on Tuesday, giving it a market capitalisation of GBP457.4 million.

Craneware said it has "identified a small number of acquisition opportunities".

"The net proceeds of the placing are intended to be used to take advantage of these opportunities, whilst preserving a prudent balance sheet which is important to the company's US hospital clients given the multi-year commitments they enter into for software solutions," the company added.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Craneware PLC 1,550.00 GBX -0.64 -

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