The biopharmaceuticals company ValiRx updated the market this morning, advising that they were launching a funding round, seeking £1.155m, issuing shares at a 17% discount to last night’s closing price. Management add that the company has had a successful year in terms of meeting its goals and the new capital will accelerate delivery here as they continue to build out the asset base. Shortly after the open, the ValiRx share price was 17% lower.
Kendrick Resources saw its shares advance in early trade after the company issued drilling results from its Teufelskuppe rare earth project in Namibia. The numbers continue to support the case for further large scale drilling activity and the Kendrick share price was 14% higher in early trade.
Following yesterday’s shake down in the wake of results which cautioned over the impact of the ongoing situation in the Middle East, 3i Group found some respite on Friday as bargain hunters moved back in. Given the pummelling the stock has taken over the last few months there was a risk that this sell off would be left looking overdone. The 3i share price was trading 4% higher by 8.30am.
Most read news on Investegate this morning
Placing to Raise £3 Million - - Predator Oil & Gas Holdings NPV (PRD)
Fundraising of up to £1,155,000 - - Valirx (VAL)
ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS - - Mkango Resources (MKA)
