THE Irish owned but AIM listed telecommunications company, Stentor, is planning to raise funds through a placing with institutional investors at around the current market price of 157p sterling.

In a statement, Stentor did not indicate how much money it planned to raise, but it is worth £11 million at its current price in the market. The finds will be used to expand its current network and provide working capital. Stentor disclosed that it will report a loss of around £1.6 million sterling for tile 15 months to the end of March.