ARTICLE | Financial News

Sinclair planning offering

August 27, 2010 12:54 AM UTC

Sinclair Pharma plc (LSE:SPH) plans to raise L19 million ($29.6 million) through the sale of 67.9 million shares at 28p in a placing and open offer underwritten by Singer Capital Markets. The price is an 8% premium to Sinclair's close of 26p on Wednesday, before the deal was announced. Shareholders are eligible to purchase 0.1767 new shares in the open offer for each share held. A general meeting to approve the offering is slated for Sept. 27. ...