Some new well-known names, as well as key directors and enthusiastic existing backers, took part in a £2.71 million placing priced at 2.5p for Avacta, the University of Leeds biophysics spin off, arranged by new joint broker BankOra.
Some new well-known names, as well as key directors and enthusiastic existing backers, took part in a £2.71 million placing priced at 2.5p for Avacta, the University of Leeds biophysics spin off, arranged by new joint broker BankOra.
Existing backers known to have been supportive include Gartmore and the well-regarded technology commercialisation company IP Group, whilst an institution previously not on the roster has bought shares in the open market.
Floated on AIM through a reversal into cash shell Readybuy in August with an initial £14.5 million valuation, the business is currently worth £25.9 million at the current 3.88p.
