LONDON (Alliance News) - Niche pharmaceuticals company Quantum Pharma PLC on Thursday said it has raised GBP15.0 million via a share placing in order to pay down its debt.
Quantum said at its interim results earlier this month that a lower level of net debt should give it greater freedom to grow its core niche drugs business.
The company raised the funds by issuing 44.1 million shares at 34.00 pence per share. The fundraising was conducted through an accelerated bookbuild, run by Zeus Capital and N+1 Singer. The bookbuild was completed just after the open on Thursday.
Quantum shares were trading at 36.50 pence on Thursday, up 11% on the day.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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