LONDON (Alliance News) - MedicX Fund Limited Wednesday said it planned to raise up to GBP48.75 million before expenses though a placing of up to 85 million shares at a price of 75 pencer per share.
The company intends to use the proceeds of the issue to fund new investments and to take advantage of future pipeline opportunities in accordance with its investment policy.
Canaccord Genuity Limited is acting as sponsor and bookrunner in respect of the issue.
The stock was trading at 80.00 pence Wednesday, up 1.25 pence or 1.6%
By Anthony Tshibangu; anthonytshibangu@alliancenews.com;
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