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ITM Power to raise £250m for new UK factory

Hydrogen electrolyser company to up spending on an "acceleration of the group's technology capabilities" in its second major fundraise in a year
ITM Power to raise £250m for new UK factory
  • ITM Power placing of £250m to be done through an accelerated bookbuild
  • Hydrogen electrolyser company already sitting on heavy cash pile from previous fundraising

Hydrogen electrolyser company ITM Power (ITM) announced a £250m placing on Thursday afternoon to fund a major expansion programme. On Friday morning, ITM said the placing had been done at 400p, a 14 per cent discount to its previous closing price, sending its shares down 10 per cent to 429p. 

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