9th Jun 2021 14:27
Itaconix PLC - polymers maker - Set to raise GBP1.1 million to go towards working capital and commercial progress. Placing will be made through direct subscription by existing investor IP Group PLC and an unnamed new institutional investor. Itaconix will issue 9.1 million shares at 12.1 pence each, 3.2% discount to 12.5p closing price on Tuesday. Of these, IP Group will subscribe for 2.1 million, worth GBP250,000, which will edge up its Itaconix holding to 11.4% from 11.1%.
Current Itaconix stock price: 12.86p, up 2.9% on Wednesday
Year-to-date change: up sharply from 2.80p on December 31
By Eric Cunha; [email protected]
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