Malin (MLLNF) has released an update.
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Malin Corporation PLC, an innovative life sciences investment firm, reports an intrinsic equity value of €6.44 per share as of June 2024, with a subsequent decrease to €6.33 by August, mainly due to a drop in Poseida’s share price and a weaker US Dollar. Following a lucrative divestment of CG Oncology shares, the company’s cash balance surged to €62.9 million, prompting a proposed €45 million capital return to shareholders via a tender offer slated for Q4 2024. This move is subject to shareholder and Irish High Court approvals, with an EGM called to discuss the necessary capital reduction.
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