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IQE PLC on Friday said it has raised £1.1 million through the issue of 5.5 million new shares at a price of 20 pence each, to existing retail investors. On Thursday, IQE said it had raised £30 million in share placing of 150.0 million shares at 20p each. The placing price represents a discount of 15% to Wednesday’s closing price of 23.5p per share. Shares in the Wales-based compound semiconductor wafer product supplier were up 15% to 23.86 pence each in London on Friday morning. IQE noted that that it has raised about £31.1 million from the REX retail offer and placing offer. 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. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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