"The placing of 7,039,890 shares at 130p a share raised 拢9.15m, well in excess of the previously given public estimate of approximately 拢5m. The offer was more than twice subscribed relative to the amount originally sought," the firm said in a statement to the City.
The move has been taken in an attempt to finance the firm's growth as a global research business and follows a good set of figures in recent months.
In the 18-month period to April 30 2005, turnover rose by an average of 53% each quarter.
The firm was founded by chief executive Chris Havemann and managing director Andrew Cooper five years ago. However, its online fieldwork activity was not established until 2003.
The statement adds that the firm believes there is considerable scope to boost its online market research business in Europe, which is running behind the US.
"It is rapidly growing and is showing a similar growth rate to that experienced in the US," the firm said.
This is the second market research flatation this year, following YouGov, which raised 拢3m when it floated on the AIM.
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