- Diurnal Group - the speciality pharmaceutical company targeting patient needs in chronic endocrine (hormonal) diseases - has started trading on AIM with a market capitalisation of GBP75.2m.

The company raised GBP30m (GBP28.4m net of expenses) through a placing on new ordinary shares at 144p apiece to institutional and other investors and through IP2IPO Limited (a subsidiary of IP Group) making a convertible loan available to it.

The company will issue 17,603,759 shares, raising gross proceeds for the company of approximately GBP25.3m. A total of 52,210,759 Shares will be in issue immediately following Admission, giving a market capitalisation of approximately GBP75.2 million at the placing price.

At 9:09am: [LON:DNL] share price was +151p at 151p

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