17th May 2018 11:59
LONDON (Alliance News) - Shares dropped in Tekcapital PLC on Thursday as its holding in medical devices provider Belluscura PLC fell with a private placing to raise USD603,000 through a share issue.
Shares in the intellectual property investment group fell 14% to 16.00 pence on Thursday.
The placing conducted through Dowgate Capital Stockbrokers was priced at 18.0 US cents per share, giving Belluscura a post-money valuation of USD4.3 million.
In addition, Belluscura has converted loans equal to USD78,000 into equity under the same terms as the placing.
Following this, Tekcapital now holds 8.1 million shares in Belluscura, representing 33% of its issued share capital, falling from 39% in February.
In February, Belluscura raised USD1.3 million through a private placement of shares also at 18.0 US cents per share.
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