Chinese fingerprint and facial recognition systems company RC Group Holdings, operating in South Africa as RCG Systems SA, is to raise around £43,7-million ($85,9-million) via a share placing at 131 pence. 

At the current share price of 136p, the company is valued at around £266-million pounds.
The money will be used to accelerate its growth and acquisition strategy which includes potential partnerships and joint ventures in the Middle East and China, establishing a regional headquarters in Malaysia and customising products.
RC Group has already identified potential targets and is optimistic of concluding significant transactions this year, it says.
The 33,3-million new shares, representing 17% of the current issued capital, will be placed with institutional investors and is not subject to shareholder approval, the company says.