UK-listed online video technology company Blinkx is issuing new shares equivalent to 7.5% of the companys value.
Blinkx is placing up to 23.2 million new ordinary shares. Bookbuilding is managed by Citigroup Global Markets. Details of pricing will be announced after the closing of the bookbuilding process.
Blinkx said it was issuing the new shares to improve its balance sheet and provide additional funding to support its growth strategy.