Symphony Environmental Technologies PLC (AIM:SYM, FRA:XP7) announced that Vincel Investment Holdings Limited bought 2.5mln new shares in the company.
The plastic and rubber products developer raised £750,000 as the subscription price was a 13% premium to Thursday’s closing price.
READ: Symphony Environmental expects commercialisation of key product lines in the 'very near term'
Some 2.5mln warrants have been granted to Vincel at 40p per share, exercisable for six months from completion of the subscription, when Vincel will own 14.8% of the AIM-listed group.
The investor is owned by Shruti Lohia, daughter of Mr S P Lohia, chairman of Indorama Corporation in Singapore.
Shares rose 6% to 28p on Friday at the opening bell.