Clinigen Raises £50 Million as it Prepares to Float

Pharmaceuticals services company Clinigen has raised £50m as it gets set to float on the AIM market next week (25 September), £40m more than the rumoured amount. The Burton-on-Trent-based company said this morning (19 September) it will be admitted to AIM with a market capitalisation of £135m. The placing, conducted by Numis Securities Ltd, has raised £50m from institutional investors, including £10m of new money for the company before expenses, at a price of 164p per share. Dealings in Clinigen shares are expected to commence on AIM at 8am on Tuesday 25 September 2012.