Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Amphion Innovations surges as Panmure Gordon puts £100mln price tag on partner

Amphion Innovations surges as Panmure Gordon puts £100mln price tag on partner

Shares in Amphion Innovations (LON:AMP) spiked more than 30% as one City stockbroker implied its stake in portfolio company Kromek (LON:KMK) could be worth £11.5mln.

Panmure Gordon tipped the x-ray specialist, which floated on AIM last month, to rise to 92p, giving it a stock market valuation of just under £100mln.

This values Amphion’s 11.6% stake at £11.5mln, which is almost £4mln higher than its current market capitalisation.

This did not go unnoticed by the investment community, who sent Amphion’s shares up 31% to 5.4p.

Since floating at 51p on October 16, Kromek’s shares have already risen 46% to 75p. At the current price, Amphion’s stake is worth £9.3mln.

Panmure’s Dr Mike Mitchell called Kromek “an enviably-placed business” and started covering the stock with a ‘buy’ rating.

“Its technology platform gives Kromek several ‘shots on goal’ in discrete high-value markets where there is already evidence of traction,” he said.

“With high-growth earnings targets, commercial execution will be key, and we anticipate delivery will justify a premium rating in due course.”

View full AMP profile

Amphion Innovations Plc Timeline

Newswire
February 07 2017
Big Picture
November 21 2016
Newswire
September 08 2016

Related Articles

dollar bills
February 22 2017
The mobile video streaming group has issued 14.1mln shares to Cascade SVP at a price of 11.4p per share
Online shopping
January 30 2017
The acquisition of Fredhopper looks a fantastic deal, bringing critical mass to ATTRAQT
Arnie, the Terminator
February 02 2017
The march of the machines ... Telit's shares are up 40% over the last year

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.