Small-cap spotlight

SIR Martin Sorrell’s S4C has bolstered its war-chest ahead of more acquisitions in digital advertising and marketing services. A placing of shares at 315p last night raised a bigger-thanexpected £116 million after strong demand from new and existing investors, including Sorrell and other directors. S4 has grown rapidly since it was founded in May 2018, with Sorrell carrying on the acquisitionhungry strategy he implemented for 33 years at WPP. Shares opened 15p higher at 330p today.