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Avingtrans PLC - Cambridgeshire, England-based maker of equipment, such as motors and pumps, for the nuclear, medical and industrial markets - Raises £21 million from a placing of 3.3 million shares at 630 pence each. The equity offer was first announced at the London market open on Friday, and Avingtrans says it was ‘greater than three times oversubscribed’ and ‘strongly supported by both existing and a large number of new institutional investors’. Avingtrans had said that a ‘blue-chip institutional investor’, which it didn’t name, had agreed to be a cornerstone participant, contributing £11 million toward the raise. The new shares represent about 9.0% of the company’s enlarged total. Non-Executive Chair Roger McDowell subscribes for 126,984 shares worth £799,999. The placing is run by Singer Capital Markets. Avingtrans says it will invest the net proceeds, expected to be about £19.9 million, into its manufacturing facility in the US state of Michigan to expand its capacity in a US nuclear market that it estimates at $2.5 billion. The company says a larger facility will allow its Advanced Engineering Systems division to growth nuclear sector revenue to £90 million from £35 million, based on ‘already know business’. Current stock price: 661.35p, up 5.0% in London on Friday 12-month change: up 57% Copyright 2026 Alliance News Ltd. All Rights Reserved.
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