Morgan Stanley-Backed Atlantis Raises $33 Million for Tidal Plan
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Atlantis Resources Corp., a Morgan Stanley-backed maker of tidal turbines, raised 20 million pounds ($33 million) with a European grant, funds from a government institution and an initial public offering in London.
The Singapore-based company raised 12 million pounds by selling about 12.8 million new shares at 94 pence each on London’s Alternative Investment Market, Chief Executive Officer Tim Cornelius said. That values Atlantis at 72 million pounds.