AIM listed Vialogy (VIY) shares came back from suspension on Friday, closing the session at 0.16p after a £6.5 million placing at 0.11p. We took part in that placing and will be taking up our full entitlements in the open offer at 0.11p – we were already shareholders. I suggest that existing shareholders do the same (given how in the money they are already) and also buy a lot more in the market on Monday.
Vialogy has bought molecular diagnostic company Premaitha by issuing 95 million shares at 0.11p (that is a £10.5 million price tag). It has raised another £6.5 million at 0.11p in a placing which was FOUR TIMES oversubscribed with a raft of institutions on board. The open offer will raise up to £700,000 more.
Effectively the free float (since the vendors and institutions and those who backed the last placing cannot or will not flip) is c 10%, if that.
on ShareProphets | CommentsFiled under: