GI Dynamics completes it's over subscribed placement of CDI's at $.53 and is currently trading at a premium to the placement price. The Company raised $57 million via the placement and has opened an SPP to raise up to an additional 2.5 million. Support for the offer indicated continued strength in the Healthcare stocks that were best performing sector in FY12 (VIEW LINK)
I have 13 years experience in equity markets and financial media. In 2013 I Co Founded, Livewire Markets with Tom McKay. Our vision is to be the #1 source of investment ideas in Australia. Opinions expressed are my own.
James, the upscaled raising is quite a bullish signal for equity markets. The Virtus float has also been a success trading at $6.80 vs float price of $5.68. The IPO/placement market is showing signs of strength for the first time since 2009.