IP Group sells most of Ceres Power stake

By Aidan Gregory
14 Jul 2020

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 ...

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