Block trade funds Monitise's shift to subscriptions based business model
An overnight block trade saw UK mobile banking technology firm Monitise raise over £109m to finance its shift to a global subscriptions-based business model.
The deal sold 160.6m new shares, 8.7% of the expanded share capital through a fully underwritten block trade. The shares were priced at 68p each, a 1.1% discount to the closing mid-market price of the Monitise stock on Monday evening.
Barclays and Canaccord Genuity were joint bookrunners.Monitise has always ...