News

UK's Moneybox raises $85.4M ahead of flotation

March 11, 2004

LONDON - ATM provider Moneybox says it has raised £47.5 million (U.S. $85.4 million) through a share placing ahead of next week's flotation on London's Alternative Investment Market (AIM).

In its prospectus, the company said the move would value it at £93.6 million (U.S. $1.6 billion); net proceeds from the placing were £20 million (U.S. $35.9 million).

Moneybox plans to apply £7.5 million (U.S. $13.5 million) of the proceeds toward the acquisition of G2, a UK-based developer and operator of ATMs and the Girovend cashless payment systems.

The company's imminent admission to AIM represents "an important step forward for Moneybox," said Paul Stanley, Moneybox's chief executive.