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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.”

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