Tuesday 25 September 2018

Malin meets investors as it eyes fundraising

'It was trading around its IPO price of €10 during the week' (stock photo)
'It was trading around its IPO price of €10 during the week' (stock photo)
Gavin McLoughlin

Gavin McLoughlin

Life sciences investment company Malin has been meeting investors at home and abroad with a view to a future fundraising, it is understood.

Davy, which acts as the company's broker and corporate finance adviser, has been organising meetings on its behalf. Malin - which raised €330m through a flotation on the Irish Stock Exchange in 2017 - did not respond to a request for comment from the Sunday Independent.

The business raised around €27m earlier this year, saying it would use the money for general corporate purposes and for investments in its portfolio.

It has recently undergone an overhaul at management level, with Kelly Martin stepping down and being replaced by erstwhile chief investment officer Adrian Howd.

The company said the changes were "designed to accelerate the development and advancement of its assets and to deliver a more targeted deployment of Malin resources to its assets".

Martin, it said, would work with specific companies it has invested in.

Major investors in Malin include the Ireland Strategic Investment Fund and Woodford Investment Management - run by well known UK fund manager Neil Woodford. It was trading around its IPO price of €10 during the week.

Sunday Indo Business

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