Strong support for Hampson share offer
BLACK COUNTRY aerospace manufacturer Hampson Industries has announced strong but not unanimous support for a share offer designed to raise almost £60m.
Earlier this month, the board of Hampson Industries (HAMP) announced its intention to try and raise £59.5m – £55.6m net of expenses – by way of a firm placing and open offer on 119,012,408 new shares.
The Brierley Hill-based company is seeking to use the money to reduce its net borrowing and support growth plans as the aerospace sector recovers from recession.
The open offer closed at 5pm yesterday and the company said today it had received valid acceptances for 74.22% of the new shares – raising £44.6m.
The remaining 25% of shares have been placed with brokers in the hope of attracting later buyers.
The Capital Raising is conditional on the approval of shareholders at the group’s general meeting today.
Applications for admission of the new shares have been made to the UKLA and the London Stock Exchange.
