PrimaryBid raises approximately £3m for Ascent Resources

PrimaryBid announces the completion of another successful fundraising.

Ascent Resources raised gross proceeds of approximately £3 million through the successful offer of shares at 1.85 pence per share – which includes subscriptions from individual investors applying over the weekend exclusively through the PrimaryBid platform.

Colin Hutchinson, CEO of Ascent Resources said:

“I am delighted with the response to the Offer and the significant proportion of the shares taken up by private investors. It is pleasing that in using PrimaryBid private investors usually excluded from such Offers have been able to participate on the same terms as institutional investors at this exciting time for the Company.”

Dave Mutton, COO of PrimaryBid, said:

With the majority of this offering having been taken up by PrimaryBid investors, we are very pleased at the success and to have helped Ascent achieve its goal in opening access to private investors. 

Giving private investors “zero commission access” to deals that were typically reserved for institutions opens up a valuable investor base for AIM listed companies.

Author: Dylan Jones

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