Brand communications consultancy BV Group has exceeded expectations by raising £2.3m from floating on the Alternative Investment Market.
The group had estimated that the flotation would raise £2m, but eventually placed 4.6m shares with investors at a price of 50p each.
The additional resources will be used to boost the company’s technical capabilities and recruit extra staff for expansion (DW 11 August).
BV Group chairman Charles Levison says: “Investors have responded with enormous enthusiasm. We are in a strong position to offer expertise in building virtual brands at a time when the need for this has never been greater.”
The company works with on-line businesses in the finance and professional services sectors. It has recently designed the corporate identity for pharmaceutical research company OGS, and has carried out projects for clients such as Gartmore and Oxford Glyco Sciences.