PracticeConsultingAnite rallies after new share issue

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.

Related Articles

5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

5m Alia Shoaib, Reporter
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

11m Stephanie Wix, Writer
Managing partner Q&A - the year ahead: Richard Toone, CVR Global

Accounting Firms Managing partner Q&A - the year ahead: Richard Toone, CVR Global

12m Kevin Reed, Writer
Deloitte 'self-imposes exile' on government contracts to defuse PM row

Accounting Firms Deloitte 'self-imposes exile' on government contracts to defuse PM row

12m Kevin Reed, Writer
Managing partner Q&A - the year ahead: Julie Adams, Menzies

Accounting Firms Managing partner Q&A - the year ahead: Julie Adams, Menzies

12m Kevin Reed, Writer
Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

Business Regulation Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

1y Kevin Reed, Writer
Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

Audit Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

1y Kevin Reed, Writer
New head of equity capital markets for KPMG

Accounting Firms New head of equity capital markets for KPMG

1y Stephanie Wix, Writer