News Article
IQE raises £18.75 million
IQE, an outsource supplier of advanced wafers to the semiconductor industry, has announced the successful completion of a Placing and Open offer, raising £18.75 million (£17.9 million net of expenses).
On 7 October 2003, the Board of IQE, announced proposals to raise £18.75 million (before expenses) by means of a Placing and an Open Offer of a total of 125,000,000 new Ordinary Shares arranged and underwritten by Evolution Beeson Gregory at a price of 15p per share (“Issue Price”). Qualifying Shareholders were invited to apply under the Open Offer on the basis of 2 Ordinary Shares for every 15 existing Ordinary Shares held.