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Syncona Ltd - London-based investor in healthcare companies - Launches share buyback programme worth up to £40.0 million, to be conducted by Numis Securities Ltd. Says core focus remains on allocating capital to portfolio companies’ assets. However the buyback is necessary due to Syncona’s shares currently trading at a discount to net asset value, which was 184.6 pence per share at June 30. Says buyback will not affect investments into clinical stage assets planned for the next 24 months. Company expects that capital deployment into portfolio and pipeline will total between £150 million and £200 million for the year ending March 31, in line with prior guidance. Chair Melanie Gee says Syncona ‘has a high level of confidence in our portfolio and its valuation’. Current stock price: 110.96p, up 4.5% on Friday morning in London 12-month change: down 30% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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