LONDON (Alliance News) - Mereo BioPharma Group PLC said Tuesday it placed 50,076 shares at 300 pence each.
Following admission to trading of the new shares, which is expected to occur on June 1, the company will have 71.1 million shares in issue.
The pharmaceutical company said it issued the shares to broaden its shareholder base.
Mereo shares were trading down 0.9% at 319.99 pence.