By Susanna Moon
Chicago, July 9 - International Ferro Metals Ltd. said it raised £85.2 million in a private placement of stock.
The company issued 71 million shares at 120p each.
Proceeds will help fund the expansion of chromite mining and ferrochrome processing operations.
Numis Securities Ltd. was the agent.
International Ferro is an integrated ferrochrome producer based in Sydney, Australia.
Issuer International Ferro Metals Ltd.
| Issue: | Stock
|
| Amount: | £85.2 million
|
| Shares: | 71 million
|
| Price: | 120p
|
| Warrants: | No
|
| Agent: | Numis Securities Ltd.
|
| Announcement date: | July 9
|
| Stock symbol: | AIM: IFL
|
| Stock price: | 120.50p at close July 6
|
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