London Capital to raise £8m in stock sale

Financial services firm London Capital Group Holdings plans to raise up to £8m through a discounted share placing to meet regulatory capital requirements.

The company, which offers online spread betting, foreign exchange and broking services, will issue 13.3m shares at 60p per share, a 13 per cent discount to the stock’s Monday close.

The company posted a full-year adjusted pre-tax profit of £6.5m, up from £6m a year earlier.