Ideagen PLC (AIM:IDEA) shares climbed over 5% after private equity firm Cinven Ltd said it is considering a bid for the company, which provides compliance software for regulated industries.
Ideagen said in a statement that it has not been approached by Cinven about a possible takeover offer.
The statement follows an announcement from Cinven on 14 April confirming press speculation that it is in the early stages of considering a possible bid for Ideagen.
Cinven said it had not approached the Ideagen board and that there could be no certainty any offer would be made.
Ideagen shares rose 5.7% to 267.50p in early trading.