Tuesday 06 February 1996
The shares, suspended while the deal was stitched together, were heavily traded when dealings resumed yesterday. As part of a rescue refinancing 101.3 million new shares were placed with institutions while others were offered to existing shareholders.
r A rights issue, perhaps pounds 5m, is thought to be imminent at Tepnel Life Sciences, a biotechnology business which has had a difficult time.
The shares were firm yesterday, largely on a tip sheet recommendation.
In its last reported full year the company lost pounds 2.4m and there was a pounds 890,000 deficit at its last half-year.
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