CNA

CNA: Co has issued 35m new shares to Mitsubishi Electric Corp(MEC) at $0.19, disc of min tick 0.005 or 2.5% to yday closing price of $0.195. Stake is approx 14.8% of enlarged share capital and will raise est proceeds of $6.65m slated for working capital and expansion needs. MEC is involved in manufacturing of electrical and electronic equipment and have been supplying automation products to CNA, invt to be considered as strategic stake.