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Quadrise Fuels' Mike Kirk welcomes strong investor demand in recent fundraise

Quadrise Fuels International PLC's (LON:QFI) Mike Kirk caught up with Proactive London's Andrew Scott to talk through the detail of their recent fundraise.

This week the firm announced a £1.8mln open offer for existing shareholders and a further subscription for around £0.7mln.

The open offer, which will be fully underwritten by broker Peel Hunt, will allow current shareholders to buy one share for every 20 they own at an offer price of 3.96p apiece.

In total Quadrise has raised gross cash of around £4.5mln, which Kirk says potentially should take them through to the end of 2020. 

He adds that the new funds will allow them to convert the multiple opportunities they've created this year into trial projects and commercial deals.

Quick facts: Quadrise Fuels International PLC

Price: 2.355 GBX

LSE:QFI
Market: LSE
Market Cap: £23.45 m
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