Stellar Diamonds reported that it has conditionally raised £ 183,751 from the placement of 3,340,931 common shares sold at a price of 5.5 pence per share.
According to the company, it is about 73.5% of the public offering of shares.
London-based company engaged in the development of diamond deposits, trying to attract an additional £ 250,000 through the issuance of up to 4,455,455 new ordinary shares.
Proceeds from the offer will, inter alia, be used to pay existing loans and for general working capital purposes.
"In accordance with the conditional placement, 1,381,818 shares in the open offer were placed joint broker company Peterhouse Corporate Finance Limited, to meet the actual application through an open offer," - said in Stellar.
"Due to the level of actual purchases on the open offer, the total amount of conditional placement has been reduced," - added to the company.
The Stellar said that the open offer still depends, inter alia, to the approval of shareholders and access to the market of new ordinary shares to be issued in accordance with the public offering on the Stock Exchange AIM.
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