STOCKS NEWS EUROPE-Asterand up on placing; Daniel Stewart "buy"

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09:36GMT 18Nov2008-Asterand up on placing; Daniel Stewart "buy"

--------------------------------------------------------------- Shares in Asterand (ATD.L) climb 16.7 percent after the provider of human tissue-based services to pharmaceutical companies announces it has completed the placing of 4.3 million ordinary shares at 15 pence each, prompting Daniel Stewart to repeat its "buy" recommendation.

Asterand says the shares have been placed with an existing shareholder, Chrysalis Venture II, taking its shareholding to 17,335,457 or 15.1 percent of the total outstanding shares.

The placing raises 645,000 pounds, which provides Asterand with further capital to accelerate near-term growth opportunities.

Daniel Stewart repeats its 22 pence target price and says it believes, as does Chrysalis, that Asterand trades at a significant discount to its fair value.

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