TECHNOLOGY firm Filtronic said it expected to raise £2.1million through a share placing to help fund developments in the growing 4G telecommunications market.
Yeadon-based Filtronic,which designs and produces microwave electronics products for the wireless telecoms infrastructure market, said the fundraising would provide additional finance to meet an anticipated increase in activity in the second half of its financial year.
Alan Needle, chief executive, said: “The funds raised will enable us to strengthen our working capital position to continue to pursue opportunities for both wireless and broadband.”
Filtronic announced a conditional placing of 9,716,000 new ordinary shares at 22 pence per share, representing just under 10 per cent of the company’s issued share capital.
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