21st Mar 2019 08:40
LONDON (Alliance News) - Diaceutics PLC said Thursday its shares have been admitted to trading on AIM after raising GBP17 million as part of its initial public offering.
Diaceutics is a data analytics company serving the pharmaceutical industry.
The company raised GBP17 million through a 22.4 million share placing at a price of 76 pence per share, with the new shares representing 32% of its enlarged share capital on admission. The company now has 69.6 million shares in issue and a market capitalisation of GBP52.9 million.
Shares in Diaceutics were trading at 90.50 pence on Thursday morning, up 19% on the IPO price.
Cenkos Securities is the company's nominated advisor and broker.
"We are very pleased with the level of interest generated from new institutional investors in support of our admission to trading on AIM. The move to AIM and the additional funding will allow us to continue our growth trajectory by developing our product and services offering which is focused on better testing and better treatment in the global pharmaceutical industry," said Diaceutics Chief Executive Peter Keeling.
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