Vectura aims to raise $43M in placing
Chippenham, UK-based Vectura Group has announced its intention to raise L42.9 million ($78.0 million) net of expenses in an over-subscribed placing of new ordinary shares to institutional investors in the UK, Continental Europe and the USA.
The placing is conditional upon, inter alia, the approval of shareholders, at an extraordinary general meeting which is expected to take place on July 24.
52,941,177 shares will be placed at a price of 85 pence per share. The placing is being fully underwritten by Piper Jaffray, and represents the closing mid-market price as at June 27, the latest practicable date prior to the announcement.
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