IP Group sells most of Ceres Power stake
IP Group has sold £53.5m of shares in Ceres Power Holding, the UK solid oxide fuel cell maker, via an accelerated bookbuild.
Launched after the market close on Monday evening, the placing consisted of 9.15m shares, a 5.4% stake in the company.
At the 585p offer price, investors received a 7.14% discount to the closing price of the stock on the day.
Berenberg was bookrunner.The transaction was ...