16th Jun 2015 09:42
LONDON (Alliance News) - Daniel Stewart Securities PLC Tuesday said it doesn't know why its share price has risen so sharply recently but said its planned placing is likely to be priced at a discount to its current share price.
In a statement, the company said it "knows of no reason" for the movement.
The investment bank said it is still working on its placing to raise up to GBP1 million.
Daniel Stewart said the terms of the planned placing are yet to be set but that it is "likely" to be priced at a discount to the current market price.
Daniel Stewart shares were up 13% at 3.87 pence on Tuesday morning, having risen as high as 4.07p. The stock is up by about 50% over the last five trading days.
By Samuel Agini; [email protected]; @samuelagini
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