22nd Nov 2013 08:26
LONDON (Alliance News) - Gowin New Energy Group Ltd shares fell early Friday after the company raised GBP191,792 in a placing of just over 2 million shares at 9.5 pence each, saying it will use the funds to support its business strategy.
Gowin listed on AIM November 7, raising GBP1.26 million in a pre-IPO placing and GBP1.15 million in the IPO. It wants to expand its business in China and elsewhere.
On November 14, it put out a statement saying it was mulling a further placing to meet extra demand for its shares, after the stock rose strongly for the previous two days. The shares have fallen back since then and were trading down 15.2% at 9.75 pence early Friday morning, one of the biggest declines on AIM.
By Steve McGrath; [email protected]; @SteveMcGrath1
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