24th Jan 2023 08:24
(Correcting description of CyanConnode.)
CyanConnode Holdings PLC - Cambridge, England-based designer and developer of narrowband radio frequency smart mesh networks - Says on Monday, it intends to raise around GBP5 million from share placing to new and existing institutional investors. The shares are priced at 17 pence each. It is equal to the closing price on Friday last week. Plans to use the net proceeds to further strengthen the company's balance sheet.
Updates Tuesday morning that it successfully raised GBP5.3 million, placing 30.9 million shares at 17p.
By Abby Amoakuh, Alliance News reporter
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