IN BRIEF: Avingtrans raises GBP20 million in equity for US nuclear
Avingtrans PLC - Cambridgeshire, England-based maker of equipment, such as motors and pumps, for the nuclear, medical and industrial markets - Raises GBP21 million from a placing of 3.3 million shares at 630 pence each. The equity offer was first announced at the London market open on Friday, and Avingtrans says it was "greater than three times oversubscribed" and "strongly supported by both existing and a large number of new institutional investors". Avingtrans had said that a "blue-chip institutional investor", which it didn't name, had agreed to be a cornerstone participant, contributing GBP11 million toward the raise. The new shares represent about 9.0% of the company's enlarged total. Non-Executive Chair Roger McDowell subscribes for 126,984 shares worth GBP799,999. The placing is run by Singer Capital Markets. Read More