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Avingtrans
- BY: Andrew Hore |
- POSTED: 17/09/2008 |
- COMMENTS: Add yours
Avingtrans is raising £3.5m at 50p a share.
Chairman Roger McDowell is increasing his shareholding by investing £400,000 in 800,000 shares. He will own 8.8% of the enlarged share capital. Four other directors are also increasing their holdings. The shares were unchanged at 56.5p.
The £3.3m net raised from the placing will predominantly be used to buy capital equipment for the engineer’s new factory in China. The main customers will be aerospace companies.
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