(Alliance News) - Ace Liberty & Stone PLC on Friday said it raised GBP3.1 million gross from its open offer to shareholders.

The London-based property investment company previously had announced the open offer of new shares back in October, intending to raise up to GBP4.6 million from the issue of up to 18.2 million new shares at a price of 25.00 pence. Of these, 12.3 million shares were taken up in the offer.

The stock were untraded on AQSE in London on Friday, quoted at 52.50p and last traded at 65p.

Ace Liberty & Stone said the fresh cash provides a strong platform towards continuing to build its portfolio and to take advantage of future acquisition opportunities, especially during current political and economic uncertainty.

By Greg Rosenvinge; gregrosenvinge@alliancenews.com

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