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£30m bailout at 20p for IQE after catastrophic results and a warning: its shagging all the sheep yet again

By Tom Winnifrith | Thursday 18 May 2023


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Last night, after hours, Cardiff chip maker IQE (IQE) published its results for calendar 2022 and a warning about how dismal trading has been since. With its borrowings ballooning it also announced a placing at just 20p which has completed today raising £30 million. Warned of the dire consequence of the funding failing – and assuming that there will be few takers for a £3 million Rex retail offer – misguided existing backers such as Lombard Odier scurried to more than stand their corner. You cannot say that I have not warned you often enough. Those who ignored my numerous warnings, the sheep, have yet again been shagged by the Welsh. 
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