20th Dec 2016 15:25
LONDON (Alliance News) - Quixant PLC said Tuesday it intends to launch a secondary placing of 7.2% shares in the company.
Cambridge-based Quixant, which makes computer systems for the gaming industry, said directors and founder shareholders will sell up to 4.7 million shares in the company at a price of 320 pence per share.
Shares in Quixant were up 2.0% at 334.00p Tuesday afternoon.
Although Quixant did not say how much it hopes to raise in the secondary placing, the price implies expected proceeds of around GBP15.0 million should the maximum amount of shares be placed.
Quixant said the secondary placing is being made to satisfy market demand and broaden the institutional shareholder base of the company.
The company also confirmed its full year expectations remain consistent with its statement in November, which forecast profit ahead of market expectations.
By Adam Clark; [email protected]
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