Wellcome share bids reach 850p
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.LARGE investors have made indicative bids for 250 million of the 330 million Wellcome shares on offer at prices between 800p and 850p a share, writes Clare Dobie. The price compares with yesterday's close of 845p.
Advisers to Wellcome Trust, which is selling the shares through an international tender, warned that the indicative bids were not binding.
The figures emerged after the markets had closed and take account of yesterday's fall in share prices round the world. Investors have an incentive to keep their bids high in case the market recovers before the close on Friday.
Advisers said earlier yesterday that they would press ahead with the sale whatever happened to the stock market this week.
The offer of shares to the public closes today, but the price will be set only after the close of the institutional offer on Friday.
The plan is to sell 330 million shares - worth pounds 2.8bn at yesterday's closing price of 845p - but the issue could be scaled down.
Anyone wanting to buy shares in Wellcome should take their applications to branches of Lloyds Bank before 3.30pm.
They should check which branches are accepting them with the Wellcome share office (081-944-1242).
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments