4th Jun 2020 09:45
(Alliance News) - Dechra Pharmaceuticals PLC on Thursday said it has raised GBP133.4 million through the placing of 5.1 million shares at 2,600 pence each.
The placing price represented a 5.3% discount to Wednesday's closing price of 2,746p. Shares in the FTSE 250-listed veterinary pharmaceutical firm were trading 1.5% lower at 2,706.00p each on Thursday morning in London, giving it a market capitalisation of GBP2.79 billion.
Proceeds from the shares placing - which was launched on Wednesday by way of a bookbuild - will allow Dechra to "maintain a prudent balance sheet, whilst retaining the flexibility to capitalise on the company's well established and proven four key growth drivers: portfolio focus; pipeline delivery; geographic expansion; and acquisition," it said.
Following admission, Dechra Pharmaceuticals will have 108.0 million shares in issue.
By Ife Taiwo; [email protected]
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