STOCK WATCH

■ A FUNDRAISING drive has nearly halved the value of shares in the pallet maker RM2 International.

The AIM-listed firm placed more than 2.5bn shares at 1p each to raise the £25.6m it needs. It will use the money to replenish its composite pallet stocks and buy tracking devices to fit on them.

Its shares tanked 46.2pc, or 1.5p, to 1.75p.

Separately, the firm said non-executive directors John Walsh and Frederic de Mevius had stepped down.