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Prices & Quotes - UK Markets - Discoverie Group (DSCV)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 1,062.00p
Change Today:
58.00p
Market Cap:
1,006.84m
Sector:
Electronic & Electrical Equipment

Discoverie raises 55m in placing to help fund acquisitions

By Michele Maatouk

Date: Friday 03 Sep 2021

LONDON (ShareCast) - (Sharecast News) - Discoverie said on Friday that it has raised 55m in a placing to help fund two acquisitions.
The FTSE 250 company placed a total of just over 5.35m shares at 1,028p each. It had originally planned to raise around 45m but decided to increase the placing size "following significant institutional demand in the bookbuild from existing and new investors, and in light of the strong pipeline of near term acquisition opportunities".

Discoverie, which designs, manufactures and supplies customised electronics to industry, said the placing was carried out to help fund the acquisition of US-based Beacon for $80.5m and UK-based Antenova for 18.2m.

Beacon is a designer, manufacturer and supplier of custom System on Module (SOM) embedded computing boards and related software, while Antenova designs and manufactures antennas and radio frequency modules for industrial connectivity applications.

Chief executive Nick Jefferies said: "The earnings accretive acquisitions of Beacon EmbeddedWorks and Antenova continue our strategy of building a high quality, high margin international group that designs and manufactures differentiated and customised electronics.

"Both Beacon and Antenova have long-established track records of supplying high quality products, mostly into our core target markets, and are therefore well-positioned to exploit a range of growth opportunities . We are delighted to welcome the businesses and all their employees into the group."

At 0840 BST, Discoverie shares were up 11% at 1,140p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

DSCV Market Data

Currency UK Pounds
Price 1,062.00p
Change Today 58.00p
52 Week High 1,262.00p
52 Week Low 560.00p
Volume 399,528
Shares Issued 94.81m
Market Cap 1,006.84m
Beta 0.37

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What The Brokers Say

Strong Buy 3
Buy 1
Neutral 2
Sell 0
Strong Sell 0
Total 6
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

DSCV Dividends

  Latest Previous
  Interim Final
Ex-Div 16-Dec-21 10-Jun-21
Paid 14-Jan-22 03-Aug-21
Amount 3.35p 7.00p

Trades for 01-Dec-2021

Time Volume / Share Price
15:09 88 @ 1,062.00p
15:09 189 @ 1,062.00p
15:09 25 @ 1,062.00p
15:08 175 @ 1,062.00p
15:08 66 @ 1,062.00p

DSCV Key Personnel