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Venn Life Sciences holds just over a quarter of new AIM listing Integumen

It formerly held just under 42% of the healthcare products business, which has raised £2.25mln from the float and has a market capitalisation of £8.25mln.

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The IPO completes the last phase in the divestment of Venn's Innovenn unit

Contract researcher Venn Life Sciences PLC (LON:VENN) now owns 25.59% of newly-listed Integumen, which made its AIM debut Wednesday.

It formerly held just under 42% of the healthcare products business, which has raised £2.25mln from the float and has a market capitalisation of £8.25mln.

“The admission of Integumen to trading on AIM completes the restructuring by Venn of it's interest in its former innovation division, Innovenn,” Venn said in a stock exchange statement.

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Innovenn split will ‘maximise shareholder value’, says Venn CEO

Venn Life Sciences Holdings plc (LON:VENN) chief executive Tony Richardson says that separating Innovenn from its core business simplifies the firm and generates more value for shareholders. Speaking exclusively to Proactive, Richardson says: “Spinning [Innovenn] out, we believe, will...

on 5/10/16

2 min read