Stellar raises £600 000, auctions $300 000 in diamonds

Aim-listed Stellar Diamonds has conditionally raised some £600 000 to support various development initiatives at its Sierra Leone and Guinea operations and for general working capital. The West Africa-focused diamond development company placed 4.4-million new ordinary shares at 10p apiece, while Stellar’s largest shareholder Deutsche Balaton agreed to subscribe for 1.6-million subscription shares at 10p each.