May 23, 2017 / 6:35 AM / 2 years ago

BRIEF-IP Group to raise proceeds of up to 200 mln stg via placing

May 23 (Reuters) - IP Group Plc

* Intends to raise gross proceeds of up to approximately 200 million stg (approximately 195.7 million stg net of capital raising costs and expenses)

* Firm placing and a placing, open offer and offer for subscription, consisting of issue of up to 142,857,136 capital raising shares

* Firm placing and a placing, open offer and offer for subscription at an issue price of 140 pence per capital raising share

* Board has ability to increase size of issue by up to 66.6 million stg

* Is launching IP group Australia, a wholly-owned private company incorporated in state of Victoria, Australia

* Recently made an approach to touchstone board regarding a possible all- share combination of company and touchstone innovations Source text for Eikon: Further company coverage:

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