24th Sep 2018 11:52
LONDON (Alliance News) - Advanced materials firm Versarien PLC on Monday said its open offer, in which it raised GBP5.2 million, had a "very strong" response from investors.
Versarien announced the offer on Friday last week, offering 2 million new shares at 145 pence each.
Shares were 2.0% higher on Monday at a price of 181.00p.
The firm said the offer was "significantly" oversubscribed even despite the fact it had increased its size.
Chief Executive Neill Ricketts said: "We are very encouraged by the tremendous demand generated on the PrimaryBid platform in such a short period.
"PrimaryBid's innovative platform allowed us to seamlessly access retail investors at the same time and terms as institutional investors. Retail investors remain an important constituent to us and we are pleased to have allowed them access to this fundraise."
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Versarien