British online gaming firm 32Red is 5.3 million pounds richer after selling over eight percent of its stock to new investors on London’s Alternative Investment Market. Over four million new shares were created for the share deal in order to raise funds for future investment and expansion.
In a statement to announce the share deal, 32Red’s Chief Executive Officer, Ed Ware, stated that the company had intended to increase its number of shareholders since it was first admitted onto the Alternative Investment Market in September 2005. The profits accrued from the share sale will go towards crucial investments for the company’s future growth.

"We are delighted to have raised these funds, which will enable us to step up our focused marketing programme and enhance 32Red's profile and brand recognition,” Ware said. “The additional capital will also give us increased resources to pursue strategic acquisitions that we feel would be complementary to 32Red's existing offering."
The deal was brokered by Numis Securities, with each share being valued at 140 pence. Exactly 3,766 500 new shares were issued - equivalent to approximately 8 percent of the company's existing share capital. Proceeds from the deal will be used to expand 32 Red’s international marketing programme and to assist with future acquisitions the company intends to make within the online gaming industry.

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