PureTech Health (PRTC)

Sector:

Pharma and Biotech

Index:

FTSE 250

214.50p
   
  • Change Today:
    -4.50p
  • 52 Week High: 237.50
  • 52 Week Low: 140.40
  • Currency: UK Pounds
  • Shares Issued: 270.81m
  • Volume: 254,914
  • Market Cap: £580.90m

PureTech Health launches $100m tender offer

By Josh White

Date: Monday 20 May 2024

LONDON (ShareCast) - (Sharecast News) - Clinical-stage biotherapeutics company PureTech Health launched a proposed $100m tender offer on Monday, aiming to repurchase shares at a fixed price of 250p each, or £25.00 per American depositary share (ADS).
The London-listed firm said the tender offer would close at 1300 BST on 20 June for ordinary shares, and at 1700 EDT on 18 June for ADSs, unless extended.

It said it planned to purchase up to 33.5 million shares, representing about 12% of its issued share capital as of 16 May.

The offer price represented a 25% premium over its three-day trailing volume-weighted average price prior to 19 March, and a 12.6% premium over the closing price on 16 May.

If the full $100m was not used in the tender offer, the board said it intended to return any surplus to shareholders via a special dividend, subject to market conditions and legal restrictions.

The special dividend would be issued without interest and after deducting applicable withholding taxes.

PureTech said completion of the tender offer was contingent on shareholder approval at a general meeting scheduled for 6 June at its Boston office.

At 0952 BST, shares in PureTech Health were up 3% at 226.59p.

Reporting by Josh White for Sharecast.com.

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

 

PRTC Market Data

Currency UK Pounds
Share Price 214.50p
Change Today -4.50p
% Change -2.05 %
52 Week High 237.50
52 Week Low 140.40
Volume 254,914
Shares Issued 270.81m
Market Cap £580.90m

PRTC Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
17.97% below the market average17.97% below the market average17.97% below the market average17.97% below the market average17.97% below the market average
45.10% above the sector average45.10% above the sector average45.10% above the sector average45.10% above the sector average45.10% above the sector average
Price Trend
59.44% above the market average59.44% above the market average59.44% above the market average59.44% above the market average59.44% above the market average
92.45% above the sector average92.45% above the sector average92.45% above the sector average92.45% above the sector average92.45% above the sector average
Income Not Available
Growth
66.86% below the market average66.86% below the market average66.86% below the market average66.86% below the market average66.86% below the market average
71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average

What The Brokers Say

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

PRTC Dividends

No dividends found

Trades for 18-Jun-2024

Time Volume / Share Price
17:07 1,000 @ 214.50p
16:35 154,158 @ 214.50p
16:35 3,284 @ 214.50p
16:35 23 @ 214.50p
16:35 680 @ 214.50p

PRTC Key Personnel

CEO Bharatt Chowrira

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