Helphire raises £60m through new shares

Accident management company Helphire has conditionally raised £60m through the issue of 1,153,846,160 ordinary shares at 5.2 pence per share.

The net proceeds of the placing, approximately £57.5m, will be used to fund growth plans for the business.

Once completed, the new shares will account for 42.3% of the enlarged share capital.

Helphire has also announced it is paying an accelerated interim dividend of £2.7m, or 0.171 pence per share, on 10 January 2014 so that it is paid by reference to the pre-placing shareholder register.

Chief executive Martin Ward said: “This fundraising is a very positive step for Helphire, building upon the group’s recent successes. We are very pleased that such strong support has been shown for our plans to develop Helphire’s business and enhance the range of accident management services we provide to our customers.”