International legal practice, Osborne Clarke, has advised Liberum Capital Limited, in its capacity as nominated adviser, sole bookrunner and sole broker, on the successful £7.7 million placing for AIM-quoted CT Automotive Group plc.
CT Automotive is a UK-headquartered company that designs, develops and supplies interior components for the global automotive industry, with operations across China, Europe and Mexico. It has embedded relationships with a blue chip client base and long term visibility of orders, with market volumes now beginning to recover and a strong pipeline of opportunities.
CT Automotive intends to use the net proceeds of the placing to, amongst other things, strengthen the balance sheet, provide additional flexibility to take advantage of growth opportunities and to realise further efficiency savings.
CT Automotive plc (LON:CTA) designs, develops and manufactures automotive interior finishes and complex kinematic assemblies for the most well-known automotive brands on the planet. These critical components are managed through an intricate global network of reactive supply chains to arrive JIT (Just in Time) at their respective OEM manufacturing plants.