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HSS Hire to raise £54m through equity placing, open offer
StockMarketWire.com
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Tool hire company HSS Hire today said it intended to raise gross proceeds of up to £54.0 million through an equity placing and open offer in the coming weeks.
The company had secured commitments from three of its major shareholders, who subscribed for £43.5 million of the company's shares as part of the capital raise.
'The company capital raise will ensure a strong cash position and reduce net leverage, enabling the group to continue with its strong progress and successfully execute its strategy,' the company said.
At 9:12am: (LON:HSS) HSS Hire Grp Plc share price was -0.3p at 20.9p
Story provided by StockMarketWire.com
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