Likewise Group (AIM:LIKE) has increased its retail share offer to raise up to £4 million, doubling the £2 million originally targeted, after the offer proved significantly oversubscribed.
The AIM-listed flooring distributor priced the additional shares at 28.5p each, matching the terms set out in its Retail Offer Announcement of 29 July. Likewise said the decision reflects strong demand received in the placing and subscription, and subsequently in the retail offer, allowing more retail investors to participate while reducing the scale-back otherwise required.
The retail offer, alongside the additional shares, remains conditional on shareholders approving new allotment authorities at a general meeting set for 10:00 a.m. on 14 August in Solihull.
News Intelligence what this means for the company
Likewise Group doubled its retail share offer to £4 million after demand significantly exceeded the original £2 million target, allowing more retail investors to participate in the fundraise. The move reflects strong demand across both the institutional placing and subscription (which raised approximately £28.5 million) and the retail tranche, and removes the original no-withdrawal restriction to accommodate the upsizing.
The oversubscription signals investor confidence in the company's growth trajectory, though the retail offer remains conditional on shareholder approval at the 14 August general meeting. The fundraise proceeds support the same strategic purposes as the institutional raise, which included expansion projects at five sites to handle higher volumes.
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