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Technology

Beeks raises £15m funding from share offer


A provider of cloud computing and trading infrastructure to financial services firms has raised £15 million through a share placing.

Beeks Financial Cloud said the offer to purchase stock at 165p per share, a discount of 3.8 per cent to Friday’s closing price, had been “significantly oversubscribed”.

Gordon McArthur, the founder and chief executive, also sold £2.8 million of shares, which reduced his overall stake to 37.6 per cent. That holding is now subject to lockup arrangements for 12 months meaning he is unable to sell any more during that period.

Glasgow-based Beeks supplies cloud computing services for traders and financial institutions to help execute automated orders more quickly.

It has a network of more than 20 data centres around the world and has been



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