Online Blockchain (OBC) Shares Close Lower After Issuing New Shares

Practice Stock Trading Your capital is at risk.
Sam Boughedda
Updated: 10 Mar 2022

Cryptocurrency miner Online Blockchain's (LON: OBC) shares closed lower on Tuesday after the company announced it has issued 613,635 new ordinary shares.


Online Blockchain’s stock price closed the day down 8.60% at 42.6p per share.

The company issued each share at a price of 32p, receiving £196,363 in total with the proceeds going towards the business’ general working capital purposes.

An application will be made for the new shares to be admitted to trading on the AIM, with Online Blockchain expecting it to take place on the 25th of January.

“Following the Admission of the 613,635 New Shares, the Company will have 11,432,800 Ordinary Shares in issue which will also represent the total number of voting rights in the Company,” stated the company.

Trade Online Blockchain shares now

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 68 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .