By Sheri Kasprzak
New York, May 10 - Ennstone plc has negotiated a £27,338,883 private placement.
The offering includes up to 59,432,355 shares at 46p each.
Separately, the company is conducting an open offer of its stock to qualified shareholders on a 1-for-5 basis.
Proceeds from the placement and the open offer will be used for potential acquisitions and business growth.
Located in Birmingham, England, Ennstone manufactures reconstituted stone products used in construction.
| Issuer: | Ennstone plc
|
| Issue: | Stock
|
| Amount: | £27,338,883
|
| Shares: | 59,432,355
|
| Price: | 46p
|
| Warrants: | No
|
| Pricing date: | May 10
|
| Stock symbol: | London: ENN
|
| Stock price: | 57p at close May 9
|
|
|
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