13th Mar 2019 09:01
LONDON (Alliance News) - The Wellcome Trust Ltd on Wednesday said it will sell a small percentage of its shareholding in Syncona Ltd by way of a placing.
The placing is expected to include 45 million shares, or a 6.8% stake in Syncona. Wellcome will therefore reduce its stake in the life sciences investor to 30% from 36.8%.
"Having co-founded Syncona in 2012, and following its listing in 2016, the Wellcome Trust has been delighted by the success that the company has delivered," the trust said.
"Wellcome Trust will continue to be a supportive, long term shareholder and has undertaken not to sell further ordinary shares for a period of 180 days following completion of the placing without the prior written consent of the bookrunner."
Syncona shares were trading down 2.9% at 249.47 pence each on Wednesday.
Related Shares:
Syncona