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Stanley Gibbons shares plunge on £13m fundraising

Discussion in 'Market News' started by Lily, Mar 11, 2016.

  1. Lily

    Lily Forum Member

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    Company to issue new shares at just 10p each to help bolster balance sheet

    A day after selling a rare Penny Red stamp for £495,000, Stanley Gibbons has seen its shares on offer as investors bailed out of the business.

    The rare stamp and coin seller has fallen 42% to 21.5p after it gave more details of a proposed fundraising. It said it was close to concluding a deal to raise around £13m, but revealed that new shares would be offered at just 10p each.

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