By Devika Patel
Knoxville, Tenn., Aug. 19 - Ceramic Fuel Cells Ltd. said it raised £10 million in a private placement of shares. Nomura Code Securities Ltd. was the underwriter for £6.25 million of the placement.
The company sold 95,238,096 ordinary shares at 10.5p each. The price per share represents 9.79% discount to the Aug. 18 closing share price of 11.64p.
Proceeds will be used to take the company to the next stage of its commercial development, including working capital and manufacturing investment.
Based in Victoria, Australia, Ceramic develops technologies used in stationary power generation.
| Issuer: | Ceramic Fuel Cells Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | £10 million
|
| Shares: | 95,238,096
|
| Price: | 10.5p
|
| Warrants: | No
|
| Underwriter: | Nomura Code Securities Ltd. (for £6.25 million)
|
| Settlement date: | Aug. 19
|
| Stock symbol: | London: CFU
|
| Stock price: | 11.12p at close Aug. 19
|
| Market capitalization: | £123.59 million
|
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