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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

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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.

Quick facts: Genus plc

Price: 3294 GBX

LSE:GNS
Market: LSE
Market Cap: £2.14 billion
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