Wren Homes has raised £3m by issuing 8.3m new shares at 36p each.
The fund-raising comes ahead of its move from Plus Markets to AIM a week from today.
Peter West and Paul Treadaway, the main shareholders, are also raising £2.8m by selling shares worth 19.2% of the company.
References: The Guardian 23/11/06 page 36 (Market forces), The Independent 23/11/06 page 54 (Market Report)
