| Updated:
Phorm raises 15m in funds
ONLINE advertising company Phorm said yesterday it raised around £15m through a placing with institutional investors.
The group, which has drawn criticism from the Government and European Commission over data privacy, said it had raised the money with a 450p per share placing to expand its services and for general working capital purposes.
“I am pleased that the financial community has demonstrated its support for Phorm, with a substantially over-subscribed offering,” chief executive Kent Ertugrul said.