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Marwyn Materials raises £13.6m

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Date: Thursday 12 Jun 2008

LONDON (ShareCast) - Marwyn Materials, a vehicle established to acquire controlling interests in building materials businesses, raised £13.6m when it floated on AIM this morning.

The group placed 136m shares at a price of 10p. Shares are currently trading at 16p, giving it a market capitalisation of £21.76m.

Marwyn Materials said the net proceeds of the subscription will be used to meet general working capital requirements and to provide funds for the acquisition of minority stakes in UK and international quoted companies.

Collins Stewart Europe is acting as nominated adviser and broker to the company.

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