StockMarketWire.com - Industrial cleaning group React launched a £1.25m share placing to fund sales and marketing activities and support its contract pipeline.

New shares in the company were being offered at 1.5p each.

React said the funds would also accelerate organic growth and provide additional working capital.

The company recently said it was experiencing high demand amid the Covid-19 pandemic as clients sought decontamination and infection control services.

Recent trading, it said, had been ahead of management expectations and the company was expecting to deliver a 'small operating profit' for the first half.

It added that it remained 'well placed' to meet or exceed management expectations for the full year through September.

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