STOCK WATCH

SMART home solutions firm LightwaveRF plunged as it announced plans to place shares to raise £5m.

It makes items such as smart meters and wants to use the money raised to fund product development and the sales and marketing of its devices, as well as provide working capital for the business.

A trading update earlier this month revealed it expects to double revenues this year – they were £1.4m in 2016. Shares plummeted 12.8pc, or 2.4p, to 16.1p.