Origo shares rocket as it sells Niutech Energy stake
Origo Partners
0.08p
16:59 27/05/22
0.00%
0.00p
Origo Partners announced on Thursday it has sold its remaining Niutech Energy stake for $2.1m.
Financial Services
14,827.91
17:14 28/03/24
-0.92%
-137.96
FTSE AIM All-Share
743.26
16:50 28/03/24
n/a
n/a
The company received 90% of the sale price, with the remaining 10% due on fulfillment of certain conditions. The sale price was at a discount of 20% to book value, the firm added.
As a result of the news, Origo shares were up 22% at 0.20p each.
Although the company did not disclose the size of the stake it sold on Thursday in April 2018 it announced it held a 3.7% after an early divestment.