Ceres Power has raised an additional £20m of new equity. This is in addition to the £19.3m raised from Weichai and a further investment from Weichai of £26.3 million, conditional on further commercial agreements. This will increase Weichai holding to 20%. Weichai cash investment has increased to reflect dilution. Ceres has also raised guidance for 2018 and 2018. We retain our 20p price target and Buy rating.
04 Jul 2018
Ceres Power raise more money and raises guidance.
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Ceres Power raise more money and raises guidance.
Ceres Power Holdings plc (CWR:LON) | 145 0 0.0% | Mkt Cap: 280.4m
- Published:
04 Jul 2018 -
Author:
Harvey Robinson -
Pages:
3
Ceres Power has raised an additional £20m of new equity. This is in addition to the £19.3m raised from Weichai and a further investment from Weichai of £26.3 million, conditional on further commercial agreements. This will increase Weichai holding to 20%. Weichai cash investment has increased to reflect dilution. Ceres has also raised guidance for 2018 and 2018. We retain our 20p price target and Buy rating.