Venture Life Group PLC - self-care products manufacturer based in Berkshire, England - Raises gross proceeds of GBP34 million by way of a placing by Cenkos Securities to certain institutional and other investors. Offer price of 90 pence represents a discount of around 14% to the closing mid-market price of 104p on Thursday. Furthermore, to enable other shareholders unable to participate in placing an opportunity to subscribe for new ordinary shares, proposes to raise gross proceeds of up to an additional GBP2.0 million by way of an open offer made to qualifying shareholders.
Current stock price: 95.00 pence
Year-to-date change: three times higher
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Venture Life (VLG)