Aerospace products maker Velocity Composites, is embarking on a £30m float to help it pursue growth opportunities by opening additional facilities around the world.
The company has outlined plans to admit its entire issued and to be issued share capital to trading on AIM on 18 May 2017. The placing comprises 12.3 million new and 4.7 million existing shares at 85p each with both institutional and other investors to raise gross proceeds of approximately £14.4m.
Mark Mills (pictured), a well-known figure in the business community, is Velocity’s non-executive chairman.
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