new-recommended-broker-banner new-recommended-broker-banner
Practice Stock Trading Your Capital Is At Risk

Braveheart Investment (BRH) Shares Recover From Share Placing Fall

Updated: 13 Aug 2021

Shares of Braveheart Investment initially fell on Friday after the company announced the placing of 13.88 million new ordinary shares priced at 18p each.

new-recommended-broker-banner

The place will raise proceeds of £2.5 million, with the shares representing approximately 26.59% of the enlarged issued share capital of the company.

The price represents a discount of approximately 20.88% to the closing mid-market share price of an existing ordinary share on 12 August.

Braveheart CEO Trevor Brown has subscribed for 3,500,000 shares, and Free Association Books Limited, a company connected to Trevor Brown, has subscribed for 4,500,000 shares. Meanwhile, Vivian Hallam, Executive Director of the company, has subscribed for 833,333 shares.

Braveheart said it intends to use the proceeds to accelerate the development of Paraytec's Covid testing instrument by taking direct control of the final design and engineering packages. In addition, Paraytec will continue to seek partners for licencing, development, and potential sale.

“We are delighted to have been able to raise this extra funding which will enable Paraytec to pursue its new strategy,” said Brown.

The news saw Braveheart's share price initially fall as low as 19.4p. However, it has since regained those losses and more, currently trading at 23p, up 1.1%.

Should you invest in Braveheart Investment shares?

Braveheart shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are BRH shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .