Mereo BioPharma places 50k shares in PrimaryBid offer
Updated : 13:24
Mereo BioPharma Group updated the market on its offer via PrimaryBid on Tuesday, which it initially announced on 25 May as a strategy to broaden its shareholder base by accessing additional retail investors via the offer.
The AIM-traded company said it had placed 50,076 ordinary shares via PrimaryBid at 300p per ordinary share.
It said it would allot and issue 50,076 new ordinary shares pursuant to the offer.
“Application will be made for the new ordinary shares to be admitted to trading on AIM, which is anticipated to occur on or around 1 June,” the board explained.
“The new ordinary shares will rank pari passu with the existing ordinary shares of the company.”