Intermediate Capital Group (ICG), a quoted European mezzanine provider, is raising £82m (€116.89) through a two-for-13 share placing on the back of a 23% rise in pre-tax profits to £32m in the six months to July 31, 2003.

The European mezzanine market has more than doubled in size to €3.05bn in the past six months and ICG wants to increase its capacity for deals.