Trading in the shares of this cash shell began today, as directors explained that the company will acquire businesses in the investment and financial services sector. Chaired by small company expert Stephen Barclay, Abinger raised £920,000 in a placing of 92 million 1p shares, valuing it at £1.2 million. Formed to buy businesses in the investment and financial services sector, management stated that cash raised in the placing will be used to carry out due diligence on potential acquisitions, several of which have already been identified. 'We'll be acquiring two to three companies in the next couple of months' promised Barclay. 'We intend to acquire businesses which service small- to medium-sized companies, and that have the potential to generate significant, sustainable growth and profitability' he continued. Directors also stated that if the acquisition cupboard remained bare two years after admission, funds held would be returned to shareholders. Directors of Abinger include Mr Barclay, formerly executive chairman of Seymour Pierce Limited, Ian Buckley, previously Head of Corporate Finance at Greig Middleton & Co and John Shaw, a non-executive director of Aim-listed computer components distributor Fundamental-e Investments (FEI) and another investment shell, Intermediate Equity (IEQ). At the close of play, the shares sparkled by 25 per cent to 1.25p.