Financial services company Equals said it was in the advanced stages of raising around £16m, to accelerate organic growth and fund potential acquisitions.
News shares in the company were being offered at 110p each via a £14m raising that would be followed by a £2m open offer to existing shareholders.
Equals, which was formally known as FairFX, was confirming media speculation about a potential raising.
At 1:09pm: (LON:EQLS) share price was -7p at 111.5p