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AB Dynamics placing oversubscribed

07 December 2016 07:22

AB Dynamics has raised £5.4 million through a placing of 1,136,842 ordinary shares yesterday at 475p apiece which was more than 3.5 times oversubscribed. Selling shareholders agreed to sell 300,000 shares to part satisfy the excess demand.

The placing price represents a discount of approximately 6% to the average closing price for the preceding five business days.

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