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(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.
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SMALL-CAP - WINNERS
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Mast Energy Developments, 14.67p, up 17% from the IPO price of 12.5p. Kibo Energy notes the start of trading in London by subsidiary Mast Energy Developments. Mast raised GBP5.5 million from its initial public offering on the London Main Market. It had a market capitalisation of about GBP23 million based on its IPO price of 12.5 pence per share, up from its initial target of GBP20 million. Mast will use the IPO funds to acquire and develop a portfolio of flexible power plants in the UK and become a multi-asset operator. AIM-listed Kibo shares were 18% lower.
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Robert Walters, up 6.4% at 674.50 pence, 12-month range 337p-690p. The recruiter says it saw improving trends at the start of 2021 and is confident in beating market expectations for profit in the full year.
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Argo Blockchain, up 5.5% at 220.00p, 12-month range 0.00p-25p. The London-based cryptocurrency miner is tracking price of bitcoin higher. The world's oldest cryptocurrency hit a fresh all-time high of USD64,869 ahead of the much-anticipated debut of the Coinbase cryptocurrency exchange on the Nasdaq.
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Stagecoach Group, up 3.6% at 105.9p, 12-month range 32.28p-110.8p. UBS starts coverage on the transport operator with a Buy rating.
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SMALL-CAP - LOSERS
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Restaurant Group, down 4.4% at 117.92p, 12-month range 33.76p-138p. JPMorgan cuts the Frankie & Benny's, Wagamama and Chiquito dining chains owner to Neutral from Overweight.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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