Share placing fails to find buyers for nearly 40% of offer
Chaucer has announced that just over 60% of its chare offering were taken up with the rest swallowed by its placing underwriters.
The 40 pence per share offer closed at 11.00 a.m. on 20 February 2009. And the company said valid acceptances had been 112,476,971 shares. This represents 61.55%. The balance of 70,270,955 shares, representing 38.45% were not taken up by qualifying shareholders and will be taken up by certain shareholders and other institutional investors.
The shares will become effective at 8.00am on 25 February 2009.
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