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IQE PLC - Wales-based compound semiconductor wafer product supplier - Raises £30 million in share placing. Peel Hunt LLP and Numis Securities Ltd placed 150.0 million shares in IQE at 20 pence per share. Chief Executive Officer Americo Lemos, Chair Phil Smith and directors Andrew Nelson, Carol Chesney and Victoria Hull have subscribed for total of 12.7 million shares at issue price. IQE notes that the placing price represents a discount of just under 15% to Wednesday’s closing price of 23.5p per share. The company has applied to the London Stock Exchange for the shares to be admitted to trading on AIM. Admission is expected to take effect on or around Monday morning. IQE’s issued share capital now consists of 955.5 million shares. IQE launched the fundraise on Wednesday as its annual pretax loss widened to £75.4 million from £22.2 million. The company said current trading was affected by a temporary downturn in the semiconductor industry. Current stock price: 20.36 pence, down 13% in London on Thursday 12-month change: down 30% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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