News blog
Alliance Pharma
- BY: Andrew Hore |
- POSTED: 06/03/2009 |
RAB Capital has sold nearly all its shares in Alliance Pharma.
Back in January 2009 RAB sold 2m shares after a spike in the Alliance share price following a positive trading statement. The pharmaceuticals supplier revealed that its 2008 profits would be at least £2.3m, against original expectations of £2m. The stake was further reduced in February
RAB was left with 9.5% of Alliance and has now sold all of these shares, other than an indirect interest in 400,000 shares.
The latest share sales come at the same time as healthcare investor MVM Life Science Partners acquired 9.3% of Alliance.
The removal of the stock overhang is good news for Alliance.
At 5.625p a share, Alliance is valued at £9.12m.
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