LONDON (Alliance News) - Genus PLC on Friday said it raised GBP68 million through a share placing, which will go towards reducing its net debt and adding flexibility to its balance sheet.
Shares in the animal genetics firm were down 4.1% at 2,288.00 pence on Friday.
Genus raised the GBP68 million by placing 3.1 million shares in a price of 2,200 pence per share, which reflects a 7.8% discount to the stock's closing price on Thursday of 2,386.00 pence. The amount of shares placed and the price is in line with Genus's announcement of the placing late Thursday.
Peel Hunt and Liberum Capital Ltd acted as joint bookrunners for the accelerated bookbuild.
Following the placing, Genus now has 65.0 million shares issued overall.
Genus (GNS)