Anite rallies after new share issue
Shares in IT consultancy group Anite have rallied today, after the company announced it is issuing 30.5 million shares at an average of 74.4p, over three times its Thursday closing price of 22p.
The new shares will go to the sellers of two businesses, Calculus and Parsec, who were both recently acquired by Anite The inflated price paid by the two businesses will save Anite’s existing shareholders from suffering a dilution in their shares.
Talks took place last night between Anite and several of its recently acquired businesses, with the real possibility that one of them could have taken control of the company, although this seems to have been avoided through the new deal.
Shares in the company fell heavily on Tuesday after it issued a gloomy outlook for its business.
Anite has also said that a “significant proportion” of future potential earnout liabilities relates to the possible acquisition of European IT software developer Dati Group.
Anite’s share price currently stands at 34p.