Place: Kalkine Media HQ
June 27, 2019

The research comes up with a new release report named Business Overview of Rosslyn Data. This release has been published to help investors and providers in receiving a thorough understanding of the current market situation. It also presents a prediction of the market to help provider’s expertise their strategies to develop businesses.

Jersey-headquartered BigDish Plc is a technology company and engaged in the business of providing a yield management platform to the restaurant businesses. This platform allows customers to make a booking at the restaurants and avail discounts of up to 50%. The company has a geographical presence in Jersey, Indonesia, the Philippines, and Hong Kong. Its shares are listed on the main market of the London Stock Exchange with an outstanding market capitalization of around £28.95 mn. Its shared got admitted to the main market of the LSE as on August 02, 2018.

On June 06, 2019, the food technology company announced that it had raised £2.1 mn through an institutional share placement of 29,166,667 new ordinary shares of no par value in the capital. The issue was made at a price of GBX 7.2 pence per share through an institutional placing.

In the company filing with the London Stock Exchange, the group highlighted that the company is fully funded until 2021, proceeds from the share placement would be utilized towards the acceleration of the UK rollout, customer acquisition, and new product development initiatives will be undertaken actively.

Sanj Naha, CEO at the BigDish, commented that, “this is an exciting moment for the company, that it was able to secure the confidence of an Institutional fund. The company is now foraying into an expansion phase, and the additional fund will allow us to achieve our pre-determined goals.”

Its yield management platform enables eateries to fill their unutilized capacity and to strengthen their revenue by offering dynamic discounts. Eateries pay a commission fee to BigDish on bookings through their platform.

Share Price Performance

Shares of the food technology company have surged significantly from its listing price. On a year-to-date basis, the stock was up by approximately 440 percent, and in the past one-month, shares have risen approximately 222 percent respectively. Also, in the last five trading sessions, the stock was up by around 53 percent.
At the time of writing (before the market close, at 01:19 PM), shares of BigDish were quoting at GBX 9.29 and surged by 9.9% in Thursday’s market session. The stock has touched a 52w high of GBX 9.39 in today’s trading session (at the time of writing, before the market close), and a 52w low of GBX 1.41 on December-21-2018.

BigDish shares are trading considerably above the 200-days, 60-days, and 30-days simple moving average prices.

Stock’s average traded volume for 5 days was 19,658,887.60; 30 days – 7,841,049.53 and 90 days – 5,296,670.70. The average traded volume for 5 days was up by around 150 percent as compared to the 30 days average traded volume. The company’s stock beta was -0.52, reflecting a negative correlation of the stock as compared to the benchmark index.

However, 9-days and 14-days Relative Strength Index of the stock stood at 98.50 and 96.30 respectively, which indicates, the stock has entered into the overbought zone, and some correction in the near term is due.

Note: All information should be used for indicative purposes only. You should independently check data before making any investment decision.

Content Source: https://kalkinemedia.co.uk/2019/06/06/food-technology-company-bigdish-dish-raised-2-1mn-through-institutional-share-placement/