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Yellow Cake PLC - Jersey-based investor in and holder of physical uranium, founded by Bacchus Capital Advisers - Raises $110 million from equity raise announced after the London market close on Wednesday. The amount is well above the company’s minimum target of $75 million. A total of 12.8 million new shares are placed by Canaccord Genuity Ltd and Joh Berenberg, Gossler & Co KG at the pre-set price of £6.29 a share. The new shares equate to 5.3% of total shares prior to the placing. Yellow Cake currently has a market capitalisation of £1.54 billion, but this will rise above £1.60 billion after the new shares start trading on Tuesday next week. The fresh funds will be used to part-fund the purchase of 1.2 million pounds of physical uranium from JSC National Atomic C Kazatomprom at $86.15 per pound, under Yellow Cake’s 2026 option with Kazatomprom. ‘The backdrop for uranium continues to strengthen in our view,’ says Chief Executive Officer Andre Liebenberg. ‘Supply remains tight, and structural demand is accelerating through electrification and the substantial baseload requirements of AI and hyperscale data centres.’ Current stock price: 640.00 pence, down 1.0% in London on Thursday 12-month change: up 41% Copyright 2026 Alliance News Ltd. All Rights Reserved.
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