Kelso has raised £2.1 million through a placing of 59,333,331 new shares and a subscription for 8,999,999 new shares, both priced at 3p.

The new shares represent about 18.27% of the company’s existing issued share capital and will be used to expand itss investment portfolio into opportunities it believes offer a better risk-reward balance.

Admission of the shares to the FCA’s Official List and the LSE Main Market is expected at 8:00am on Friday.