Discounted private placement drags Hexagon Purus shares down

Hexagon Composites ASA

02/03/2023 11:18

** Shares in Hexagon Purus  HPUR.OL  fall 11% after the
Norwegian hydrogen high-pressure cylinder maker completed on
Wednesday a private placement at a discount 
    ** The company offered new shares at NOK 27 per unit, 25%
off the stock's value on Wednesday's close 
    ** Hexagon Purus said it raised gross proceeds of about NOK
500 million from the private placement and added that the board
would consider carrying out a subsequent offering of up to 2.75
million new shares at the same subscription price 
    ** Also on Wednesday, the company announced a MoU for
additional investments with Mitsui  8031.T , following which the
Japanese trading group subscribed for bonds worth 500 million
Norwegian crowns ($47.87 million)
    ** The group also said it is in advanced discussions with
Hino Motors regarding delivery of zero emission heavy-duty
trucks in the U.S.
    ** The stock is on track for its worst day since May 2021

($1 = 10.4452 Norwegian crowns)

 (Reporting by Elviira Luoma)
 ((elviira.luoma@thomsonreuters.com; +48 58 7696600;))