New share issue will enable engineering consultant to target business opportunities in Germany and Hong Kong
Hyder Consulting is raising money through a share issue to help fund acquisitions in Germany and Hong Kong.
In a statement to the stock exchange today the group said it was hoping to raise 拢7.8m for the share placement, equivalent to more than 2.5m new shares.
Hyder said: 鈥淭he group has a current pipeline of potential acquisitions under active discussion, of up to 拢20 million in aggregate, and hopes to be able to secure a reasonable proportion of these. The group has targeted to spend up to 拢30 million on acquisitions over the next two to three years.鈥�
Germany and Hong Kong were singled out as jurisdictions where Hyder was particular keen to achieve 鈥渃ritical mass鈥� and it was targeting business that could enhance its advisory and private clients businesses.
Hyder also gave a trading update which said the order book was ahead of budget.
