- Virtual reality entertainment company Immotion Group is seeking to raise £1 million through a new share issue, it announced today.

The net proceeds of the fundraising would be used to strengthen the company's balance sheet and provide funds to accelerate the growth of its 'Let's Explore' product offering.

Immotion's executive directors, their families and certain managers have indicated interest in investing approximately £500,000 into the share listing, the company stated.

In the third quarter of 2020, the company reported revenue of £706,000, and a cash level of approximately £1 million.

At 2:10pm: [LON:IMMO] Immotion Group Plc share price was 0p at 3.6p

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