By Sheri Kasprzak
New York, Sept. 28 - Vanco plc said it has completed a private placement of shares for £20 million.
The company sold 4,444,444 shares at 450p each to institutional investors.
Proceeds from the offering will be used to strengthen Vanco's balance sheet following its acquisition of Universal Access Global Holdings Inc. for £18.7 million.
Based in Middlesex, England, Vanco designs, manages and implements global corporate data networks.
| Issuer: | Vanco plc
|
| Issue: | Stock
|
| Amount: | £20 million
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| Shares: | 4,444,444
|
| Price: | 450p
|
| Warrants: | No
|
| Settlement date: | Sept. 28
|
| Stock price: | 488p at close Sept. 27
|
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