Avanti offers little explanation as share price surges

Satellite data communications services company Avanti Communications issued a statement on Friday afternoon, as its share price surged.

The AIM-traded firm offered little explanation in its two-line release, however, as its stock shot up more than 35% to 44p.

“As announced on 11 July, the board is conducting a strategic review to consider all financial and strategic options,” Avanti’s board said.

“This is ongoing and an update will be provided in due course.”