Instem plc (AIM: INS) a leading provider of IT solutions to the global life sciences market, yesterday (11/04/2019) announced that N+1 Singer had sold, on behalf of the Selling Shareholders, a total of 1,660,000 Ordinary Shares at a price of 290 pence per Ordinary Share for which there was significantly more demand. The Placing Shares represent, in aggregate, 10.2 per cent. of the total issued share capital of the Company.
Phil Reason, CEO of Instem, said:
“As a result of strong institutional investor demand following our recent results, certain shareholders have placed shares with both existing and new shareholders. I am delighted that these long term Instem shareholders have still retained a significant investment in the Company and our broadened share register provides a strong and supportive base from which we can continue to grow our business.”
N+1 Singer acted as Nominated Adviser and Sole Bookrunner.
Current Market Cap: £51 million*
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* As at 12/04/2019