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Pin to quick picksFrontier Ip Share News (FIPP)

Share Price Information for Frontier Ip (FIPP)

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Share Price: 41.50
Bid: 40.00
Ask: 43.00
Change: 0.00 (0.00%)
Spread: 3.00 (7.50%)
Open: 41.50
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Low: 41.50
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IN BRIEF: Frontier IP sells USD4.7 million in Exscientia shares

Thu, 18th Aug 2022 22:02

Frontier IP Group PLC - London-based intellectual property commercialisation company - Sells 391,200 American Depositary Shares held in portfolio firm Exscientia PLC at an average price of USD11.97 per ADS, totalling USD4.7 million.

Sale of shares took place between June 17 and August 16.

Following the sale, Frontier IP now holds 782,400 shares in Exscientia. Proceeds from the share sale will of towards general working purposes and providing support to the group's existing portfolio firms.

"Exscientia has been leading the way in the application of artificial intelligence to drug discovery since its formation in 2012, and we retain half of our original holding even after the substantial realisations to date. These share sales place Frontier IP in a strong financial position to cope with what we anticipate will remain a tough economic environment," said Chief Executive Officer Neil Crabb.

Current stock price: 73.00 pence

12-month change: down 29%

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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