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Purecircle Limited (DI) (PURE)

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PureCircle raises ?26m as it looks to accelerate growth

15 May 19

LONDON (ShareCast) - (Sharecast News) - PureCircle has raised more than 26m through a share placing, as it looks to expand its product portfolio and ramp up growth.
PureCircle, which produces stevia-based sweeteners for the food and drinks industry, said it raised gross proceeds before expenses of 26.6m after placing 9,500,000 new ordinary shares at 2.80 per share. The placing shares represent around 5.4% of the company's existing issued ordinary share capital.

The company said on Tuesday, when it announced the placing, that it wanted to "fully capitalise on opportunities within its existing customer base as well as new opportunities, which have been advanced as stevia adoption grows".

In particular, the funds will be used to upgrade current manufacturing capabilities, and to scale up and expand next generation sweeteners such as Reb M. Other uses will include ongoing research and development, and for marketing.

Shares in PureCircle, which has its main offices in Kuala Lumper and Chicago but is listed in London, rose 6% to 276p by 1330 BST.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.


Market Data

Currency UK Pounds
Price 131.20p
Closing Price Change 0.000p
52 Week High 340.00p
52 Week Low 130.40p
Volume 0
Shares Issued 184.45m
Market Cap 242.00m


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