1st Apr 2015 13:43
LONDON (Alliance News) - Inspired Energy PLC said Wednesday that a group of directors and existing shareholders plan to offer 35 million existing shares in the company at a price of 10 pence each, or an 8.2% stake in the company.
Shares in the company are trading down 11.7% at 10.15 pence.
The company said the purpose of the secondary placing is to increase the liquidity of its shares in response to institutional demand, and allowing the directors to rebalance their portfolios.
The placing will take place via an accelerated bookbuild arranged by Shore Capital Stockbrokers Ltd.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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