Share in Tekcapital PLC (LSE:TEK) fell 6.6% on Thursday following its portfolio company MicroSalt PLC (AIM:SALT)’s AIM debut.
MicroSalt, which is 77% owned by Tekcapital, raised over £3 million before expenses through the initial public offering (IPO), giving the low-sodium salt manufacturer an £18.5 million market capitalisation.
Despite its largest shareholder trading down, MicroSalt’s share price has surged nearly 19%, from 43p to 51.5p, in its first morning of exchanges.
Tekcapital shares were swapping for 10.21p as of 10am.