25th Nov 2013 10:38
LONDON (Alliance News) - Auhua Clean Energy PLC Monday said it has raised GBP1.3 million through the issuance of 6,250,000 shares of the company at 20 pence per share.
The environmental technology company, which provides solar water heating to residential properties and is based in the Shandong Province of eastern China, said the proceeds will be used for general working capital.
The company said in September its pretax profits rose in its first-half on strong demand for its energy efficient technology and its profits will increase in its second-half as the property market improves and it starts a traditionally high sales period.
Auhua Clean Energy shares were down 5.9% to 41.10 pence Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
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