(Alliance News) - Intuitive Investments Group PLC on Monday said it intends to list on the AIM market of the London Stock Exchange, raising GBP7.5 million through a placing.
The life sciences-focused investor will place 37.5 million shares at a price of 20 pence each, and the proceeds will go towards investments into mainly life science companies, based in the UK, Europe and the US.
The investments will be focused on diagnostics and healthcare, medical devices, bio-therapeutics and pharmaceuticals. Intuitive's portfolio is expected to comprise 10 to 12 holdings, with no single investment reflecting more than 15% of the company's net asset value.
Strand Hanson Ltd will act as nominated adviser and Turner Pope Investments as sole bookrunner. Trading of Intuitive Investments shares is expected to start on December 14, with an anticipated market capitalisation of GBP7.8 million.
"IIG's proposition is based on my belief that through the skillful deployment of capital, we can advance the growth of companies with greater certainty than otherwise might be the case and provide a superior return to other alternative investment opportunities for investors," said Executive Chair David Evans.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Intuitive Investment Group (IIG)