IP Group, a commercialisation firm based in the UK, started its planned £128m ($193m) fundraising, following shareholder approval.

The firm is issuing 56,888,888 shares at 225p per share for the round.

The money will be used to capitalise on a year of strong growth at the firm, and to further fuel the company’s expansion into the US.

Alan Aubrey, CEO of IP Group, said: “We are delighted to announce the successful completion of the capital raise. This leaves the Group…