Simon Thompson 

PCF equity raise worth buying into

Simon Thompson

Simon Thompson

Aim-traded specialist bank PCF (PCF:32p) is raising £10.75m through a placing and open offer for shares at 30p. The proceeds will be used to fund the bank’s organic growth in vehicle and asset finance, particularly in the prime market; support and grow last autumn’s acquisition of Azule, a specialist funding provider to individuals and businesses in the broadcast and media industry; and enable the bank’s new property bridging finance to grow beyond its initial lending target of £20m.

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