Proceeds intended to help company acquire Viz Risk Management Services
By Devika Patel
Knoxville, Tenn., Nov. 29 - Brady plc said it will conduct a private placement of shares via agent Cenkos Securities plc. The company said it will raise £15 million.
The company will sell 25,423,729 ordinary shares at 59p each. The per-share price represents a 3.28% discount to the Nov. 26 closing share price of 61p.
Proceeds will be used to acquire Viz Risk Management Services AS and for additional working capital.
Brady is an energy company based in Cambridge, England.
| Issuer: | Brady plc
|
| Issue: | Ordinary shares
|
| Amount: | £15 million
|
| Shares: | 25,423,729
|
| Price: | 59p
|
| Warrants: | No
|
| Agent: | Cenkos Securities plc
|
| Pricing date: | Nov. 29
|
| Stock symbol: | London: BRY
|
| Stock price: | 62.5p at close Nov. 29
|
| Market capitalization: | £17.26 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
