Some big losses for the small cap process technology developer Neometals this morning after management called time on the stock’s London listing. This is a dual issuance with shares being traded in Australia and a Depositary Interest offered in London but the note acknowledges that the local listing doesn’t provide value for investors. However despite the reported very low levels of interest in the UK book, the Neometals share price is down 23% in early trade.
Shares in the micro computer manufacturer Raspberry Pi were something of a stand out on Friday with gains being posted in a broadly downbeat market. Whilst there’s no fresh news out today, an update published late on Thursday advised of stake building by a US based investor who had built a 3.59% holding in the stock. That has been sufficient to lift the Raspberry Pi share price towards the top of the FTSE-250, up by more than 2% in early trade. The shares are now trading 85% higher than the IPO price set back in May.
The outsourcer Serco was also an outlier in terms of finding support from investors on Friday with the stock extending Thursday’s gains off the back of the trading update and FY25 outlook. As we noted yesterday, debt is falling here at an impressive pace and margin improvement was also in evidence. The Serco share price has added a further 1% in early trade, taking two-day gains to more than 9%.
Most read news on Investegate this morning
Two life sciences companies receive cash offers - - IP Group (IPO)
