HeiQ plans capital raise to support "ambitious" scale-up

(Alliance News) - HeiQ PLC on Thursday announced a potential open offer to help fund its venture scale-up plans, ahead of its scheduled delisting.

The London-based materials and textiles company, whose operational headquarters are in Zurich, said its shares' last day of trading will be Monday as the delisting will take effect on Tuesday morning.

In the meantime, to support its "strategic restructuring and ongoing efforts to reposition...for long-term growth", the company intends to hold an open offer for its current shareholders.

"This anticipated capital raise is designed to strengthen HeiQ's financial foundation and support our ambitious venture scale-up plans to deliver value to all stakeholders," the company explained.

HeiQ said it is therefore in discussions with certain independent investors, and expects a number of investors to formally underwrite the capital raise.

HeiQ also has appointed Asset Match to facilitate off-market trading in its ordinary shares, through an open auction system.

Shares in HeiQ were trading 3.9% lower at 4.00 pence in London on Thursday afternoon.

By Emma Curzon, Alliance News reporter

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