Diamond’s firm to raise funds

Former Barclays chief executive Bob Diamond’s latest venture, Africa-focused investment firm Atlas Mara, is placing 36.5m more shares in a major fundraising effort. Atlas Mara will issue the shares at $11 (£6.54) apiece, hoping to raise around $400m. Late last year, the group raised $325m in their initial public offering, but are quickly returning to the market for more funding. The group anticipates that the cash will be used for future acquisitions.