Grafenia shares spike

Jo Francis
Friday, January 8, 2021

Shares in Grafenia have rocketed by more than 100% to a new 52-week high after an investor – or investors – splurged a six-figure sum on shares in the group.

Grafenia: board "knows of no reason" for share price rise
Grafenia: board "knows of no reason" for share price rise

The £15.6m turnover print, marketing and signage PLC, listed on London’s AIM market, had to issue a statement after its share price jumped by 125% today (8 January).

“The board of Grafenia notes the recent increase in the company's share price and advises that it knows of no reason for this rise,” it said.

At the beginning of the week Grafenia’s share price was 3.7p. It started to increase yesterday and hit a new 52-week high of 11.5p earlier today.

An unnamed investor, or investors, purchased around £150,000-worth of shares in the group, some 1.6m shares equating to a 1.4% stake in the business.

The investor will only have to go public if the stake rises to 3% or more.

At the end of its last financial year the major shareholders were as below. 

Grafenia’s most recent results were filed in November, for the half year.

The share price had dipped back to 9p at the time of writing. Its market capitalisation was £9.46m. 

The group’s brands include trade printer Marqetspace and its Nettl network of website, print and design studios.

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