(Alliance News) - Amiad Water Systems Ltd on Wednesday said it raised GBP17.6 million through an open offer.
Shares in the water treatment & filtration systems firm were untraded on Wednesday afternoon in London, last quoted at 240.00 pence each, giving it a market capitalisation of GBP55.4 million.
Amiad said it received valid acceptances from shareholders in respect of 3.6 million open offer shares as well as applications for a further 3.4 million shares under its excess application facility.
Israeli private equity firm & significant shareholder FIMI Opportunity Funds subscribed for 6.8 million shares, taking his stake in the company to around 40%.
Following admission of the new shares, Amiad's issued share capital will comprise 30.4 million shares.
By Ife Taiwo; ifetaiwo@alliancenews.com
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