By Iain Gilbert
Date: Friday 28 May 2021
LONDON (ShareCast) - (Sharecast News) - Gasification technology group Eqtec said on Friday that it was looking to add to its warchest by way of a placing of new ordinary shares, an offer for subscription of up to 200.00m new ordinary shares by PrimaryBid and a direct subscription of up to 287.66m new ordinary shares.
Eqtec will place its new ordinary shares at a fixed price of 1.5p each, an 11.24% discount to the stock's closing mid-price on 27 May, as the group looks to bring in £15.0m via the accelerated bookbuild process, with admission of the shares to trading expected to take place on 3 June.
As far as the PrimaryBid offer was concerned, Eqtec hopes to raise up to £3.0m, while the firm added chairman Ian Pearson had indicated his intention to subscribe for approximately £100,000 as part of the direct subscription.
The AIM-listed group intends to use the funds raised to accelerate growth in its target European markets, formalise its market entry in the US, secure and deliver RDF-to-energy projects in the UK and further extend its platform for growth.
As of 0845 BST, Eqtec shares were down 7.69% at 1.56p.
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Currency | UK Pounds |
Share Price | 2.34p |
Change Today | -0.010p |
% Change | -0.43 % |
52 Week High | 4.05 |
52 Week Low | 0.28 |
Volume | 1,517,562 |
Shares Issued | 181.49m |
Market Cap | £4.25m |
Value |
---|
Price Trend |
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Income |
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Growth |
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No dividends found |
Time | Volume / Share Price |
16:39 | 350,000 @ 2.26p |
16:35 | 22 @ 2.30p |
16:35 | 22 @ 2.20p |
16:35 | 66,666 @ 2.34p |
16:35 | 66,666 @ 2.34p |
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