Aerospace parts manufacturer to raise £15m in flotation
A Burnley headquartered aerospace products manufacturer has said it expects to raise £14.4m when it floats on the AIM market later this week.
Velocity Composites, which has a turnover of around £15m, operates from a 26,000 sq ft facility at AMS Technology Park in Burnley, as well as having a base at Fareham in Hampshire.
The placing comprises 12,270,739 new and 4,705,885 existing ordinary shares at 85p each to raise gross proceeds of £14.4m, giving it a market capitalisation of £30.4m.
The company, which employs 97 staff,... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
