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HDD boom on share issue

lse:hdd

#1

HDD surge to 65p today on news it has placed nearly 4 million or about 7% new shares at 63p in order to raise £2.5M, needed for its new facility and expansion plans in Bicester serving its Airbus customer. This will considerably improve the health of the company balance sheet.

HDD say the placing was significantly over-subscribed. As yet unnamed institutional investors so impressed with company prospects to be happy to pay a sp premium, HDD get signficant funds for nothing, small investors get a strong uptick. Bloomin’ marvellous.

For some reason, having just raised the funds it requires, HDD says it is also exploring asset finance, so maybe it wants to convert some of its capex into finance leases aswell. Which would add cherry to the icing on the cake.


#2

Tipped today by David Buxton at finnCap with a target price of 88p, commenting on the investment for the future being made at new UK facilities, the commercial progress across sectors, and the huge potential in aerospace.


#3

The problem with HDD is the secrecy required by it’s clients , were it not for that we’d be over 88p IMO.