Published on 11/11/2008 in the Prospect News PIPE Daily.
New Issue: Lonrho seals £15.44 million private placement of stock
By Devika Patel
Knoxville, Tenn., Nov. 11 - Lonrho plc said it has raised £15.44 million in a private placement of shares.
The company sold 308,846,000 ordinary shares at 5p per share.
Proceeds will be used to finance working capital and continuing exploration expenditures.
Based in Liverpool, England, Lonrho has a portfolio of investments in infrastructure, transportation, support services and hotels.
| Issuer: | Lonrho plc
|
| Issue: | Ordinary shares
|
| Amount: | £15,442,300
|
| Shares: | 308,846,000
|
| Price: | 5p
|
| Warrants: | No
|
| Settlement date: | Nov. 11
|
| Stock symbol: | London: LONR
|
| Stock price: | 6.67p at close Nov. 11
|
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