GI Dynamics has completed an oversubscribed private placement, raising a total of A$57.5mm at an issue price of A$0.53. GID securities closed at an 18.9% premium to the placement price of $0.63. The proceeds will be used to fund GID's EndoBarrier clinical trial, which will enable GID to penetrate the lucrative obesity/diabetes market, says Charlie Aitken (Bell Potter). Virtus Health, which was floated mid-June, was also oversubscribed and is trading at a 21.5% premium to issue price. The strength of these recent issuances signal a potential revival in equity markets as well as reflecting the resilience of the healthcare sector.
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