(Alliance News) – The following stocks are the leading risers and fallers within the main London indices on Thursday.
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FTSE 250 – WINNERS
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IP Group, up 2.7%. IP Group’s portfolio company Oxford Nanopore Technologies has raised GBP29.3 million of new capital. IP Group’s stake in Oxford Nanopore will be 16% upon completion of the fundraising, it said, valued at around GBP264 million. Oxford Nanopore noted that funds were raised from both new investors and existing shareholders from the US, Europe and Asia Pacific. "We’re delighted to see another successful fundraising for Oxford Nanopore which rounds off an impressive year of commercial success and technical validation of nanopore sequencing," said IP Group Chief Executive Alan Aubrey.
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FTSE 250 – LOSERS
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Tullow Oil, down 3.4%. The London-based oil & gas producer said it has discovered oil on the Kanuku licence off the coast of Guyana, South America, but less than expected. Early results from drilling at the Carapa-1 well suggest the finding of oil in Upper Cretaceous sandstones. Results show the four metres of net oil pay has a sulphur content of less than 1%. Chief Operating Officer Mark MacFarlane said: "While net pay and reservoir development at this location are below our pre-drill estimates, we are encouraged to find good quality oil which proves the extension of the prolific Cretaceous play into our acreage." He added: "We will now integrate the results of the three exploration wells drilled in these adjacent licences into our Guyana and Suriname geological and geophysical models before deciding the future work programme."
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OTHER MAIN MARKET AND AIM – WINNERS———-Eqtec, up 70%. The Cork, Ireland-based energy company said North Fork Community Power finalised and signed the legal documentation that allows the financial close of the proposed construction and operation of a 2 megawatts biomass plant at the North Fork project, US. Back in June, Eqtec said it will buy a 20% interest in North Fork Community Power on financial close of the project. On Thursday, the company said this acquisition has now been completed. Under the contract, Eqtec said it will invoice to North Fork Community Power a total of EUR2.2 million for the sale of equipment and the supply of engineering and design services. On commissioning – expected before the end of the first quarter of 2021 – the project is estimated to have a valuation of USD20 million, Eqtec said, and be capable of generating annual revenue of USD4 […]
