7th Nov 2013 12:04
LONDON (Alliance News) - Gowin New Energy Group Limited Thursday began dealing on the AIM market in London and has raised GBP2.4 million in two placings.
The LED lighting products company said it raised GBP1.3 million by way of a pre-IPO placing of 21.0 million shares and GBP1.1 million by way of an ordinary placing of 16.5 million shares giving a market capitalisation of roughly GBP24 million on admission.
The company said that net proceeds from the placings will be used to fund working capital and continue expanding the business in China and overseas.
Gowin shares were up 16% at 9.00 pence Thursday.
By Tom McIvor; [email protected]; @TomMcIvor1
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