WANDISCO has successfully completed a $30m (£23.7m) fundraise as it attempts to recover from scandal and resume trading on AIM.

The data company will issue 47.5m new shares, which was 70 per cent of the company's capital prior to the fundraise.

The proceeds will provide the firm with working and growth capital.

The firm added it consulted with and received "strong support" from many of its largest shareholders in advance.

Global Frontier Investments subscribed for 4.2m shares while Davis Capital Partners subscribed for 5.5m shares. Both were existing shareholders in the company.

(c) 2023 City A.M., source Newspaper