MediaTech firm ZOO Digital Group plc has raised £12.5 million in a share placing.

Headquartered in Sheffield, ZOO provides tech-enabled localisation and media services to major Hollywood studios and streaming services.

Founded in 2001, it operates from hubs in Los Angeles, London, Dubai, Turkey, South Korea, India and Denmark with a development and production centre in South Yorkshire.

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The placing created 7.8m new shares – representing approximately 8.7% per cent of the issued share capital of the company prior to the placing – with existing shareholders Herald Investment Management and Canaccord Genuity Wealth Management subscribing for 400,000 and 812,500 respectively.

They were made available at a price of 160 pence per share, representing a discount of approximately 13.5%.

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