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African Medical raises £5.1m
Mon, 01 Dec, 2008
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African Medical raises £5.1m
Fri, 27 Jun 2008, 12:39:00
<b>African Medical Investments</b> raised £5.1m on AIM this morning through a placing of 51m shares at 10p each.<br /><br />The company, which invests in the African healthcare sector, now has a market capitalisation of £5.6m.<br /><br />The proceeds of the placing will be used to provide the funds needed to identify and carry out due diligence on potential target acquisitions and to provide working capital for the company's initial operations.<br /> <br />"There are huge opportunities in Africa, especially in areas of business that have historically been neglected by investment," said chairman Phil Edmonds.<br /><br />Accordingly, we see the medical sector as an area of investment activity that will both potentially provide attractive returns for investors whilst also directly benefiting Africa," he added.<br />
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