IQE has announced its intention to raise up to £95.1m (gross) through a placing of up to 67.9m new shares at 140p/share. The funds will enable IQE to expand capacity to support multiple VCSEL volume ramp-ups from FY19 onwards. We expect the share issue to be earnings neutral in the near term, and are encouraged by this signal of confidence from management as it prepares for the next step change in output.
14 Nov 2017
IQE - Funds raised to support VCSEL ramp-up
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IQE - Funds raised to support VCSEL ramp-up
IQE plc (IQE:LON) | 28.6 -0.3 (-3.7%) | Mkt Cap: 275.5m
- Published:
14 Nov 2017 -
Author:
Anne Margaret Crow -
Pages:
3
IQE has announced its intention to raise up to £95.1m (gross) through a placing of up to 67.9m new shares at 140p/share. The funds will enable IQE to expand capacity to support multiple VCSEL volume ramp-ups from FY19 onwards. We expect the share issue to be earnings neutral in the near term, and are encouraged by this signal of confidence from management as it prepares for the next step change in output.