Big rise for Genus shares
GENUS shares have almost tripled in value since they were last traded, quoted at "140p to sell, 150p to buy" on the OFEX market on Wednesday morning (Dec 3).
The last trading day in January, under the old biannual system, saw about 100,000 shares change hands at 50p.
This week, on the new daily arr-angement, over 20,000 shares were traded in the first two days, starting at 115p before climbing to 145p. This gives a market capitalisation of £33.3m and is ahead of the indicative offer made by the Alchemy consortium, which sought to make a bid for Genus in late August.
"The price achieved is beginning to demonstrate the latent shareholder value in the business," said chief executive, Richard Wood. "I am particularly pleased at the interest being shown by farmers, looking to add to their existing shareholdings." *