Tasty raises £9m to fund restaurant expansion

Restaurant chain operator, Tasty plc has conditionally raised £9m through a placing of 6.21m shares at 145p each.

The placing, which represents around 11.6% of the current issued share capital, was oversubscribed and supported by new and existing institutional investors, as well as the board.

Tasty said proceeds from the placing will be used to fund the continued expansion of the company's restaurants estate.

Also, the group said current trading remains in line with expectations and the continued rollout of the Wildwood restaurant brand (pictured) is proceeding well.

AIM-listed Tasty also operates the Dim T restaurant chain.