Covid-19 test maker Abingdon Health shares dive over 27 per cent as it plots placing
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Shares sank more than 27 per cent by market close, to 27.5p per share.
The company plans on using the proceeds to make up for a capital shortfall which it expects in the first quarter of 2022, Abingdon said in a regulatory filing today.
Alongside the placing, shareholders intend to subscribe for 1.2m new ordinary shares to raise another £300,000. The placing and the subscription combined will raise around £4m for the firm.
York headquartered Abingdon entered a partnership with fellow manufacturer BioSure UK earlier this year, to produce at-home Covid-19 antibody test kits.