16th Dec 2015 08:41
LONDON (Alliance News) - Filtronic PLC on Wednesday said shareholders have only taken up half of the shares it made available under its recently announced open offer, causing the company to fall short of its aim to raise GBP1.0 million.
The microwave electronics product designer has only raised GBP500,000 after only 10.0 million of the 20.0 million shares on offer, priced at 5.0 pence per share, were taken up by shareholders.
Filtronic shares were trading down 2.4% to 5.0 pence per share - matching the open offer price.
The fundraising still remains conditional as it needs approval from shareholders.
By Joshua Warner; [email protected]; @JoshAlliance
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