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

Updated: 19 Jan 2021

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.

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