LONDON (Alliance News) - Shares in PureCircle Ltd dropped early Tuesday after the company announced a discounted private placement.
The stevia producer and marketer said it would issue 2.5 million shares at 550 pence per share in order to raise USD22 million. The funding will be used to expand its current supply chain and back an accelerated growth plan, it said.
The issue price was at a discount to the company closing share price of 595 pence per share on Monday. Early Tuesday, shares in the company were trading down 4.4% to 569 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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