UK's Yourgene Health soars on cash offer from Novacyt

Yourgene Health

03/07/2023 09:41

(Updates)
    ** Shares of Yourgene Health  YGEN.L  jump 143.6% to 0.475p
- over five-month high; on track to log record intra-day gains,
if trend holds  
    ** Molecular diagnostics co gets cash offer of 0.522 pence a
share from France-based diagnostics firm Novacyt  ALNOV.PA  
    ** Proposed deal values entire issued and to-be-issued share
capital of YGEN at about 16.7 mln pounds ($21.17 mln)
    ** Offer price per share at a premium of about 168% to
Yourgene's last close  
    ** London-listed shares of Novacyt also up 34% at 51p; on
track to log best day since Dec. 30, if trend holds  
    ** Up to last close, YGEN down ~44% so far this year 



($1 = 0.7888 pounds)
    
    

 (Reporting by Prerna Bedi in Bengaluru)
 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))