14th Jul 2020 10:07
(Alliance News) - Intellectual property investor IP Group PLC has netted GBP53.6 million from sale of a 5.4% stake in clean energy company Ceres Power Holdings PLC, sole bookrunner Joh Berenberg, Gossler & Co KG said on Tuesday.
Under the placing, which was announced on Monday, IP Group sold 9.2 million Ceres Power shares at 585 pence per share. Following completion of the placing, IP Group continues to own 288,784 shares in Ceres Power, representing 0.2% of the issued share capital.
Ceres Power share were down 7.2% at 584.78 pence each on Tuesday morning. IP Group shares were up 2.3% at 66.46p.
Ceres Power did not receive any proceeds from the share placing.
By Tapan Panchal; [email protected]
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