Israel company Geo Interactive Media Group completed a public share issue which raised just over 23m pounds on London’s AIM Alternative Investment Market exchange for smaller companies. Following the successful issue the company plans to move over to London’s main exchange. 18 million shares (15.2% of capital) were offered at 1.45 pounds each. This is the second capital raising exercise the company has carried out at AIM, the previous one being in late 1996. The company produces Emblaze, a product line that allows streaming video and audio over the internet to be used by clients who do not have plug-ins installed. Last year the company made a loss of just under $10m mostly due to marketing costs of $6.5m. The company employs 160 staff of whom a quarter are based in the US working in marketing.
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