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Chesnara ( (GB:CSN) ) has shared an update.
Chesnara PLC announced the successful completion of its rump placing, following a rights issue where RBC Europe Limited and ABN AMRO Bank N.V., along with ODDO BHF SCA, acted as underwriters. The company managed to secure subscribers for all unaccepted New Ordinary Shares, representing about 12% of the total shares issued, at a price of 255 pence per share. The proceeds from this placing will be distributed to qualifying shareholders whose rights lapsed, enhancing Chesnara’s financial stability and potentially improving its market position.
The most recent analyst rating on (GB:CSN) stock is a Buy with a £320.00 price target. To see the full list of analyst forecasts on Chesnara stock, see the GB:CSN Stock Forecast page.
Spark’s Take on GB:CSN Stock
According to Spark, TipRanks’ AI Analyst, GB:CSN is a Neutral.
Chesnara’s overall stock score is driven by a mix of improving financial performance and recent strategic corporate events that bolster its market position. However, high valuation concerns temper the outlook, despite a strong dividend yield.
To see Spark’s full report on GB:CSN stock, click here.
More about Chesnara
Chesnara PLC operates in the financial services industry, focusing on life insurance and pension products. The company, along with its subsidiaries, serves various markets, providing insurance solutions and managing life insurance portfolios.
Average Trading Volume: 355,494
Technical Sentiment Signal: Buy
Current Market Cap: £604.3M
Learn more about CSN stock on TipRanks’ Stock Analysis page.