IQE Shares Fall After Results of Placing
May 18 2023 - 4:22AM
Dow Jones News
By Giulia Petroni
IQE's shares fell on Thursday after the semiconductors company
reported results of a placing announced this week.
The British supplier said a total of 150 million new ordinary
shares have been placed at a price of 20 pence a share, raising
gross proceeds of GBP30 million.
The issue price represents a discount of approximately 14.9% to
the closing price of 23.5 pence for each existing ordinary share on
Wednesday.
At 0730 GMT, shares were down 14% at 20.10 pence.
IQE also said an application has been made to the London Stock
Exchange for the new ordinary shares to be admitted to trading on
the alternative investment market. Trading is expected to commence
on or around May 22.
IQE announced the placing on Wednesday, saying proceeds will be
used to meet its near-term liquidity requirements and deliver a
sustainable balance sheet position going forward.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
May 18, 2023 04:07 ET (08:07 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
Iqe (LSE:IQE)
Historical Stock Chart
From Jun 2024 to Jul 2024
Iqe (LSE:IQE)
Historical Stock Chart
From Jul 2023 to Jul 2024