LONDON, 15 November 2012 – Panmure Gordon & Co, a leading independent institutional stockbroker and investment bank, is pleased to announce it has acted as sole adviser to Snoozebox plc (AIM: ZZZ), a provider of portable hotel accommodation, on its placing to raise £8.4m.
Panmure Gordon introduced Snoozebox to the London market on May 1st this year when the company listed at 40p per share and raised £12m to enable it to increase its inventory to 400 rooms. Today’s placing at 55p per share with new and existing institutional investors, will enable the company to add further rooms, taking the company’s total inventory to 640 rooms.
Panmure Gordon & Co chief executive, Phillip Wale, commented: “Snoozebox is an excellent example of Panmure’s ability to connect dynamic, innovative ideas to investors and their capital. Since its successful listing, we have been delighted to see the company’s progress. It has provided more than 20,000 room nights at major events across the nation this year.
“Today’s placing is further evidence that a public listing can help strong companies access the capital they need for growth – the foundation on which rests the nation’s prosperity and much needed job creation,” Mr Wale said.