Zamano to raise €2.5 million in equity

10 Dec 2009

To fund the firm’s expansion plans, Zamano announced this morning that it will make 3,888,889 new shares available at a price of 18 cent.

Zamano, which is quoted on the AIM and Dublin IEX markets, will apply to have the shares placed on the London and Dublin markets from 23 December next.

The company has targeted two areas for investment: a dedicated smart-phone team to focus on the burgeoning smart-phone apps market that’s expected to grow to 16bn by 2013; and the growing mobile advertising market, which is on track to grow to €15 billion by 2013. 

“The placing will put Zamano in a strong position as we enter 2010, with a strengthened balance sheet and the capacity to execute our strategy in an exciting new market for the group,” said chief executive John O’Shea.

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