By Sally Watson, 6 September 2000 14:27
NEWS Fibre optic specialist Bookham Technology is expected to announce plans today to issue 18.5 million shares in a bid to increase trading liquidity. The company will principally issue extra shares - worth £792m - to existing shareholders, but also plans to create over three million new shares to raise an additional £131m in funding. The extra money will be used to finance an increase in production and R&D, as well as funding potential acquisitions. Bookham also hopes the move will create a broader ownership of its shares - founder and CEO Andrew Rickman currently owns 24 per cent of the company. Oxford-based Bookham floated in April at £10 a share - raising £200m. Its shares have since peaked at a high of £54, before dropping to the current level of around £40.
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