Branch² Intelligence
AVINGTRANS PLC: Result of Placing
Key takeaway
Avingtrans raises £21m via oversubscribed placing at 630p to fund North American expansion.
- Step 1Avingtrans raises £21m via equity placing to fund North American expansion.
- Step 2Hayward Tyler subsidiary receives capital to increase manufacturing capacity for energy and industrial pumps.
- Step 3Increased production capacity captures market share in US pump market, boosting Avingtrans' revenue and margins.
- Step 4Stronger cash flows and growth profile may lead to equity re-rating, lowering cost of capital for future acquisitions.
Source: FCA NSM (Regulated News)
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