26th Mar 2015 17:48
LONDON (Alliance News) - IP Group PLC Thursday said that 46.3% of the 5.8 million shares available under the open offer portion of its GBP128 million capital raising were taken up by shareholders, with the rest conditionally placed with institutional investors.
Earlier this month IP Group revealed plans to raise GBP128 million through a firm placing of 51.1 million new shares and a placing and open offer of 5.8 million shares, both priced at 225 pence per share. The group is raising the funds so it can fund investment in technology at its partner universities and grow its US business.
The 51.1 million shares will be issued through the firm placing.
Shares in IP Group closed down 0.21% at 235.00 pence Thursday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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