UK AIM-listed market data technology vendor Knowledge Technology Solutions is to raise £950,000 in a placing of 8 million new ordinary shares of 0.1 pence each at a price of 12.5 pence per share.
The net proceeds of the placing will be used for the launch of MarketTerminal, an international version of KTS' UK financial news and data service QuoteTerminal.
The funds will also be used for continuing roll out of QuoteTerminal in the UK as well as the recruitment of technical and customer services staff.
Marc Pinter-Krainer, KTS chief executive, says: "We're now looking forward to the next phase in our growth, which is the vigorous sales and marketing of the international live financial news and data service MarketTerminal when it launches in the coming months."