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InfraStrata

  • BY: Andrew Hore |
  • POSTED: 07/02/2011 |

Gas storage developer InfraStrata has raised £901,000 from a placing at 22p a share.

All the shares were bought by an existing institutional investor. The cash will help to finance the development of the Islandmagee storage project in Northern Ireland where InfraStrata is still trying to secure a partner.

JPMorgan Asset Management recently increased its stake in InfraStrata to 15.2%.

At 23p a share, the existing share capital is valued at £17.1m.

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