Empresaria has raised £950,000 by placing 1m shares at a price of 95p on the Alternative Investment Market (AIM).

It expects to use the money for a “number of opportunities in overseas staffing markets currently being considered by the company”.

Empresaria, a diversified recruiter, is undertaking rapid overseas expansion in markets such as the US, Eastern Europe and Australia (see Recruiter, 3 May, page 11).

Dealings in the new shares are expected to start on Friday. The company has a value of about £22m on AIM.

Chief executive Miles Hunt (pictured) said: “I am delighted with the response and support from investors and believe the funds raised will position the company to effectively undertake the next stage of its business strategy.”