Fulham Shore has raised £2.25m in a share placing that was oversubscribed.

Following the fundraise launch yesterday, The Real Greek and Franco Manca operator has issued a total of 36 million new ordinary shares at a price of 6.25p.

The new shares will represent approximately 5.91% of the issued share capital and total voting rights of the company as enlarged by the issues of the new ordinary shares.

Several company directors subscribed for subscription shares in the fundraise, including chairman David Page, who acquired 2,248,000 shares, and managing director Nabil Mankarious, who acquired 2,952,000.

Commenting on the results, Page said the group was “pleased to have concluded the fundraise, which was oversubscribed, at a premium to the previous day’s closing share price. This raise, along with our new bank facilities, places us on a sound financial footing.”

Speaking to the Telegraph on Thursday (6 August), Page revealed that the company is considering expanding in a string of sites previously occupied by Carluccio’s and has been ‘inundated’ with offers from landlords.

For the four weeks since 6 July, like-for-like restaurant sales at its reopened sites were around 72% year on year.

It has also entered into a new £10.75m debt facility and agreed new terms for its existing £15m banking facilities.