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(Alliance News) - Construction material firm SigmaRoc PLC said on Tuesday it raised GBP32.8 million via a share placing in order to fund its acquisition of CDH Developpement SA.
SigmaRoc earlier on Tuesday said it agreed to buy the holding company of Carrieres du Hainaut SCA and CDH International SCA for EUR45.1 million. Of this, the price consists of an initial EUR29.1 million consideration plus EUR16.0 million deferred - the deferred payment being EUR2.0 million on the first anniversary of the acquisition's completion and another EUR14.0 million on the second anniversary.
SigmaRoc placed 79.9 million new shares at a price of 41 pence each, with the proceeds to be used to satisfy the initial consideration for the purchase.
The placing was supported by existing as well as new investors and was conducted through an accelerated bookbuild process, said SigmaRoc. Liberum acted as bookrunner in relation to the placing.
SigmaRoc shares closed flat at 41.00p in London on Tuesday.
By Anna Farley; annafarley@alliancenews.com; Updated by Lucy Heming; lucyheming@alliancenews.com
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