Freecom.net to raise £20m in placement

Will place 15.4 million shares at 130p each, says offering was 20 times oversubscribed

Business-to-business online shop Freecom.net said it is in talks with several possible partners for collaborative ventures in Europe, the US and the Far East.

The company also announced details of its placing, which will consist of 15.4 million shares priced at 130p each, above the range set in its 5 November prospectus. Originally the company had set a range of 97-120p per share.

The placing will now raise £20m before expenses, the company said.

It said its new eStarter product, released 15 November, has been "well received".

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