24th Jun 2015 08:40
LONDON (Alliance News) - Shares in healthcare company PureTech Health PLC traded higher on their debut on the main market of the London Stock Exchange Wednesday, whilst Ten Alps PLC said it plans to re-list on AIM on July 13 following its reverse takeover of Reef Television Ltd.
PureTech raised GBP108 million in its initial public offering of 67.6 million shares at 160 pence each, giving it a total market capitalisation of GBP363.6 million.
Shares in PureTech were trading up 15% at 184.30 pence Wednesday morning.
The company said it expects to be eligible for inclusion in the FTSE UK Index series.
Ten Alps, a multimedia content producer for TV and radio that was co-founded by musician Bob Geldof, agreed a reverse takeover of Reef Television for about GBP5 million last Wednesday. This consists of a GBP2 million initial cash consideration, and up to GBP3 million deferred consideration in cash and shares, plus an additional earn-out payment.
Ten Alps expects to raise GBP4.5 million upon re-listing. It will have 419.4 million shares at 2 pence per shares on admission, giving it a market capitalisation of GBP8.4 million.
Shares in Ten Alps are trading up 4.8% at 0.440 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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