Nanomedicine play Midatech raises L16M

Midatech Pharma plc (LSE:MTPH; NASDAQ:MTP) raised L16 million ($19.9 million) through the sale of 14.5 million shares at 110p in an oversubscribed placing. The company plans to raise an additional L2 million ($2.5 million) in an open offer.

Midatech proposed to raise at least L12 million ($14.9 million) in the offering on Tuesday. Panmure Gordon is placement agent. ...