19th Jan 2021 19:27
Surface Transforms PLC - manufacturer of automotive brake discs - Proposes conditional placing to raise GBP17.9 million before expenses at a placing price of 50 pence per share. The net proceeds of the placing will be used to fund the construction cost of original equipment manufacturer production cell two, machinery improvements within original equipment manufacturer production cell one and for general working capital purposes. In addition, Surface Transforms proposed an open offer of up to GBP2.0 million before expenses with existing shareholders, at the same price. Any proceeds received under the open offer will be used to further support the company's strategy and general working capital purposes.
Current stock price: 61.00 pence, up 1.7% on Tuesday
Year-to-date change: up 20%
By Evelina Grecenko; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Surface Transforms