Ceramic Fuel Cells completes new share placing
Ceramic Fuel Cells Limited (AIM / ASX: CFU) has completed the placing of new ordinary shares to institutional investors in the UK and Europe, announced on 5 May 2008.
The placing raised gross proceeds of approximately £7.0 million (A$14.7 million). These funds will provide Ceramic Fuel Cells with further working capital to facilitate the Company’s continued commercialisation activities including the integration of its fuel cell products with conventional condensing boilers.
The new shares were issued, and admitted to trading on the AIM market, on Friday 9 May. The Company has today applied for the new shares to also be quoted on the ASX. A total of 35,000,004 new shares were issued, taking the Company's total issued shares to 344,745,674.
Source: Fuel Cell Today
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