WYG share placing falls short of target

White Young Green (WYG) has raised approximately £9.7m from the City, falling short of its target of nearly £15m.

WYG launched a placing with institutional investors and an open offer to qualifying shareholders in December. It hopde to raise £6.2m from the former and a further £8.6m via the latter. However, it confirmed today that with both offers now closed, a total of £9.7m has been raised.

WYG will spend this sum on making acquisitions and reducing its gearing.