By Sheri Kasprzak
New York, May 10 - Ennstone plc has negotiated a £27,338,883 private placement.
The offering includes up to 59,432,355 shares at 46p each.
Separately, the company is conducting an open offer of its stock to qualified shareholders on a 1-for-5 basis.
Proceeds from the placement and the open offer will be used for potential acquisitions and business growth.
Located in Birmingham, England, Ennstone manufactures reconstituted stone products used in construction.
Issuer: | Ennstone plc
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Issue: | Stock
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Amount: | £27,338,883
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Shares: | 59,432,355
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Price: | 46p
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Warrants: | No
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Pricing date: | May 10
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Stock symbol: | London: ENN
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Stock price: | 57p at close May 9
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