By Susanna Moon
Chicago, June 13 - Leisure & Gaming plc priced a £1.75 million stock private placement, issuing 13,461,540 of common shares at 13p each, according to a press release.
Proceeds will be used for working capital and help launch new products.
"Having successfully developed the largest franchise network of betting shops in Italy over the last two years, our priority is now to continue driving the growth through increasing the range of products across our network and applying our proven business model to other international markets," Henry Birch, the company's chief executive said in the release.
The London-based company is an internet and telephone betting and gaming operator.
Issuer Leisure & Gaming plc
| Issue: | Stock
|
| Amount: | £1.75 million
|
| Shares: | 13,461,540
|
| Price: | 13p
|
| Warrants: | No
|
| Pricing date: | June 13
|
| Stock symbol: | LSE: LNG
|
| Stock price: | 14.62p at close June 12
|
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