(Alliance News) - Bloomsbury Publishing PLC on Friday said it has completed the non-pre-emptive placing of shares in the capital of the company.
The stock closed 4.3% lower in the afternoon trading at 225.00p a share, giving it a market capitalisation of GBP169.5 million.
Earlier on Friday, the London-headquartered fiction and non-fiction publisher announced its plans to raise GBP8.4 million through placing of 3.8 million shares at 223.25 pence each due to Covid-19.
The placing price represents a discount of 5.0% to the mid-market closing price of 235p on Thursday. Following the admission, the company will have 79.1 million shares overall.
Bloomsbury explained that government lockdowns in key markets like UK, Australia and India has hit book sellers like WH Smith PLC, Barnes & Noble and Waterstones.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Bloomsbury (BMY)