By Christian Moess Laursen
CyanConnode Holdings said it plans to raise around 2.5 million pounds ($3.1 million) in a discounted share subscription and placing in order to improve its balance sheet.
The U.K. smart-metering technology company said late Wednesday that the shares will placed at 10 pence each, representing a 1% discount to Tuesday’s closing price.
The proceeds will be used to strengthen the balance sheet and fund the resources needed to manage the scale-up of the company, CyanConnode said.
Write to Christian Moess Laursen at [email protected]
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