Block trade funds Monitise's shift to subscriptions based business model

By Nina Flitman
27 Mar 2014

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 ...

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