LONDON (Alliance News) - MedicX Fund Ltd Wednesday said it raised GBP48.75 million in an over-subscribed placing and open offer of 85 million shares.
It will use the funds to make new investments.
"We are delighted that the fund raising was so well received by our existing shareholder base and attracted significant interest from a range of new investors resulting in the Issue being substantially over-subscribed," Chairman David Staples said in a statement.
"We continue to see a pipeline of additional investments at attractive prices and the Issue positions the Fund to take advantage of these opportunities," he added.
MedicX Fund shares were up 1.2% at 82 pence Wednesday morning.
By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1
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