SWAP Technologies and Telecomm PLC has raised a total of N3.5 billion through a successful private placement. The company had offered one billion shares of 50 kobo each at a premium of N3.00 per share.
According to the managing director and chief executive, Tunde Titilayo, the money would be invested mainly in new ventures and retiring of some of the bank debts in order to position the company to become top five quoted conglomerates in Nigeria by 2011.