Craneware PLC - Edinburgh-based healthcare software firm - Cancels its proposed placing despite the successful launch of an accelerated bookbuild and an over-subscription for around GBP83 million at 1,550 pence per share. Says it cancelled the placing as its proposed acquisition target agreed acquisition terms with a third party, which means that certain conditions in the placing agreement can now not be satisfied.
On Tuesday, Craneware announced plans to raise GBP80 million through the placing if shares expected to total about 20% of its entire capital, adding that the funds would be used to fund potential acquisitions.
Current stock price: 1,725.00
Year-to-date change: down 33%
By Ife Taiwo; ifetaiwo@alliancenews.com
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Craneware (CRW)