Magnetic MRO looking to raise capital with issue of new shares

Magnetic MRO (MMRO) has reached an agreement with investors to raise additional capital by up to €8.95 million ($10.1 million). Chinese company Shenzhen Yongtai Trading and Hong Kong-based Sapphire Investment Holding will acquire shareholdings of up to 13.44% and 1.6% respectively. The total share capital of Magnetic MRO will be increased from €1.09 million to €1.23 million by way of issuing up to 30,158 new shares with the nominal value of €6.4 euros each for the aggregate issue price of up to €8.95 million. “Magnetic MRO has total 11 different business units. Some of them are more focused on profitability and others