Corporate lawyers at Walker Morris have advised Fishing Republic, the fishing tackle retailer, on a share placing to raise £1.3m.

The net proceeds of the placing will be used to further advance and develop the company’s e-commerce operations, logistics and merchandising activities following the recent review of operations. It will also be used to provide additional working capital to accelerate the rate of growth of online sales.

The fundraising will be achieved through a placing of 13,000,000 new ordinary shares at a price of 10p per placing share to new and existing shareholders, including directors.