Beeks Financial Cloud Group PLC - Glasgow-based provider of connectivity for financial markets - Raises £15 million through the issue of 9.1 million shares via a placing and PrimaryBid offer at a price of 165 pence per share.

In addition, a vendor has sold 1.7 million shares at the same issue price to raise £2.8 million.

Proceeds from the fundraising will go towards investments into its products and contracts wins, as well advance purchases of IT rack capacity and computer servers and other hardware to manage the company’s supply chains.

Canaccord Genuity acted as the sole bookrunner.

‘We would like to thank all new and existing investors who have participated in the fundraising for their support. With financial services organisations accelerating their cloud transition strategies, we see a huge opportunity ahead for our Private Cloud, Proximity Cloud and Exchange Cloud offerings, and are focused on the conversion of our record sales pipeline and execution of our product roadmap,’ said Chief Executive Officer Gordon McArthur.

Current stock price: 173.00 pence

12-month change: up 43%

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