Proactive Investors - Run By Investors For Investors

Genus raises £68mln through share placing

The placing price represents a 7.8% discount to the closing price of 2,386p on 6 December 2018
Genus raises £68mln through share placing
Genus was earlier this week upgraded to a ‘buy’ from a ‘hold’ rating by broker Kepler Chevreux

Genus PLC (LON:GNS) said on Friday it had raised £68mln through a share placing.

The animal genetics company said 3.1mln new shares were issued to new and existing investors at a price of 2,200p per placing share.

READ: Genus upgraded by Kepler as African swine fever concerns abate

The placing price represents a 7.8% discount to the closing price of 2,386p on 6 December 2018.

Genus was earlier this week upgraded to a ‘buy’ from a ‘hold’ rating by broker Kepler Chevreux who believes the fall in the animal genetics company’s share price on the back of fears over the outbreak of African swine fever has been overdone.

Genus’s share price is 25% off the peak it reached last July, triggered by the outbreak of African swine fever (ASF) in China.

Peel Hunt and Liberum acted as joint book runners on the placing.

View full GNS profile View Profile

Genus Timeline

Newswire
February 16 2015

Related Articles

1550834286_shutterstock_651647128.jpg
February 22 2019
The company is developing drugs for blood disorders, metabolic diseases and curbing alcohol use
lung x-ray
May 07 2019
The company has been developing a treatment for chronic lung disease in-house and has partnered with an Australian group to develop a drug for rare liver and lung complaints
test tubes
April 16 2019
Summit Therapeutics' potential breakthrough targets C.difficile

© Proactive Investors 2019

Proactive Investors 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.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use