31st Mar 2022 15:15
ProBiotix Health PLC - developing probiotics to tackle cardiovascular disease and other lifestyle conditions - Starts trading on Aquis Stock Exchange on Thursday after raising GBP2.5 million in initial public offering. ProBiotix sells 11.9 million shares at 21 pence each, giving the company a GBP25.5 million market capitalisation upon admission. No trades of the stock are reported by AQSE on Thursday. ProBiotix made GBP1.1 million in sales in 2021.
ProBiotix was set up by AIM-listed OptiBiotix Health PLC. OptiBiotix shareholders will receive 0.55 of a ProBiotix share for each OptiBiotix share held. OptiBiotix also will retain a 44% stake in ProBiotix.
"The global probiotics market was estimated to be valued at USD61.1 billion in 2021 and is projected to reach USD91.1 billion by 2026," says Stephen O'Hara, the chief executive officer of both companies. "The growth is expected to be driven by the increasing consumer inclination towards preventive healthcare in conjunction with the development of safe and effective probiotic strains, and we are well-placed to take advantage of this."
Current Optibiotix stock price: 34.77 pence, up 2.3% on Thursday
12-month change: down 32%
By Tom Waite; [email protected]
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