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Maybe and maybe not, the majority of the £10m placing shares have probably gone to existing Major Shareholders who are here for the long term, and the "number of new, high quality shareholders to Evgen's share register ( presumably those holding at least 3% ) and already given a warm welcome by Huw will no doubt be more interested Evgen's longer term prospects imho.......and diclosure of the new investors could also be very well received imho.....and Huw could have plenty of updates from the pipeline to report in the coming days which could drive the sp North, and with Evgen fully funded for the next couple of years with multiple shots on multiple targets, it has become a very attractive investment, and so i reckon 8p will be a distant memory before you know it......Gla ;-)
Wonder if the spread-betters are still liquidating (ref. 'protected portfolio' transactions) - we know they had a few % 'holding' in this stock. I know EVG wasn't on 'the list', but if other positions need increased margins they are probably having to reduce others as well to pay for it. Or maybe even 'taking their bat home' in disgust at the whole thing.
placing shares released into the wild tomorrow, expect another 3-4% decline to 8p. And for this to bounce along at 8p until Huw decides enough of the placing shares have been washed and releases news. highly unlikely news will be released until placing shares settle into firmer hands.
II's normally buy more than they want to hold, and sell for any profit they can get post placing, or forward sell which is what has driven the price down since the placing announcement.
My opinion is 2-4 weeks of 8p bounce before any news.
Just to get this straight kingalf, you think people will have bought excess shares at 8p, with a view to selling them at 6.65p - is that right?
The sp will float around 8p for a while imo but clinical results will push it significantly up or down. Holding and hoping.
You will probably find that short term investors who were not previously invested, purchased a minimum holding during the offer period, they then subsequently applied for a greater number of shares under the Excess Application Facility at 8p hence the over subscription. These investors will look to offload at the first opportunity hence my view that the price will drop.