Published on 8/3/2009 in the Prospect News PIPE Daily.
New Issue: International Ferro concludes £22.16 million private placement of stock
By Devika Patel
Knoxville, Tenn., Aug. 3 - International Ferro Metals Ltd. said it raised £22.16 million in a private placement of shares via agent Numis Securities Ltd.
The company sold 50,364,367 ordinary shares at 44p apiece.
Proceeds will primarily be used to fund the company's investment in the Clean Development Mechanism-compliant electricity co-generation plant.
International Ferro is an integrated ferrochrome producer based in Sydney, Australia.
| Issuer: | International Ferro Metals Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | £22,160,321
|
| Shares: | 50,364,367
|
| Price: | 44p
|
| Warrants: | No
|
| Underwriter: | Numis Securities Ltd.
|
| Settlement date: | Aug. 3
|
| Stock symbol: | London: IFL
|
| Stock price: | 56.5p at close Aug. 3
|
| Market capitalization: | £252 million
|
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