StockMarketWire.com - Technical products and services provider Diploma said it had raised about £194m through a share sale, to fund its acquisition of Windy City Wire Cable & Technology Products.

About 11.1m shares were placed in the offering, first announced late on Tuesday, at a price of £17.11 a share to raise £190m.

The company also raised about £265K from a subscription and £4m from a retail equity offering.

On Tuesday, Diploma announced that it had agreed to acquire Wind City Wire, a US-based distributor of low voltage wire and cable, for up to around £357m ($465m).

The deal included an initial cash payment of around £345m ($450m), plus a deferred cash payment of up to around £12m ($15m) payable to Windy City Wire management after three years, subject to certain conditions.

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