2nd Jun 2015 07:23
LONDON (Alliance News) - Oxford Pharmascience Group PLC Tuesday said it has raised GBP20 million via a conditional placing, significantly higher than it originally planned, in order to back the development of its OXPzero Aspirin range.
The company said it has raised the GBP20 million via the issue of 200 million shares at 10 pence per share. Shares in the company were down 7.8% to 10.95 pence on Tuesday morning, one of the worst performers in the AIM All-Share index.
Oxford Pharmascience said it has initially planned to raise GBP5 million to back the OXPzero programme, but decided to increase the funding target following the strong demand shown by investors.
N+1 Singer acted as the broker on the placing.
By Sam Unsted; [email protected]; @SamUAtAlliance
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