Ocado raises £575m to fund expansion of its tech division

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Ocado has successfully raised £575m through a share placement as the company seeks to capitalise on the growth of its technology arm.

Ocado raised the capital after placing 72 million shares at £7.95 each on Monday evening. In addition, the company raised a further £3m by placing 150,000 shares to senior management and 246,000 shares to selected retail investors.

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