The following stocks are the leading risers and fallers on AIM in London on Friday.
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AIM - WINNERS
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88 Energy Ltd, up 17% at 0.69 pence, 12-month range 0.40p-2.82p. The Alaska-focused oil explorer on recovers after a 9.1% share price fall on Thursday. On Thursday, it said it plans to raise up to A$12.0 million, about £6.8 million, through a placing. The company said it also has the ability to accept over-subscriptions to increase the total amount raised to up to A$15.0 million. The shares are priced at A$0.0095, which represents a 21% discount to the shares closing priced on the Australian Securities Exchange on Wednesday. The company says the proceeds will be used to fund the planned Hickory-1 well at Project Phoenix, payment for the new Project Leonis acreage, and finance potential portfolio expansion.
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Genedrive PLC, up 13% at 24.32p, 12-month range 8.00p-42.00p. The Manchester-based molecular diagnostics company continues to surge after strong start to 2023. Since the start of the year, the company’s shares are up 99%, over the past 12-months stock is up 13%.
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AIM - LOSERS
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Petro Matad Ltd, down 33% at 2.74p, 12-month range 1.60p-5.60p. On Thursday, the petroleum exploration company focused on Mongolia said it plans to raise £500,000 through a retail offer by way of an accelerated bookbuild process at an issue price of 2.5 pence per retail offer share. Petro noted that the retail offer is conditional on the capital-raising shares being admitted to trading on AIM.
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