CyanConnode soars after successful fundraising
A look at the main movers on the London market on Thursday
9.14am: Radio specialist in demand
CyanConnode (LON:CYAN), which specialises in narrowband radio frequency networks allowing machine to machine communication, has successfully raised £3.15mln to boost its balance sheet.
The company issued new shares at 9.5p each in a heavily oversubscribed placing and subscription, with three directors taking part.
It said the funds would be used to strengthen its balance sheet and increase working capital, to allow it to continue to take advantage of its significant growth opportunities and to execute its growing order book and pipeline.