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Sensyne pays price for share discount

A deeply discounted share placing raised £25 million for Sensyne Health yesterday, but sent shares in the healthcare technology company tumbling by almost a third at one stage.Sensyne, founded by Lord Drayson, a former science and business minister, pl…

A deeply discounted share placing raised GBP25 million for Sensyne Health yesterday, but sent shares in the healthcare technology company tumbling by almost a third at one stage.

Sensyne, founded by Lord Drayson, a former science and business minister, placed 27.4 million new shares, representing 21.6 per cent of the its share capital, at 90p each.

This was a discount of 35.7 per cent to the closing price of 140p on Tuesday night and of 48.6 per cent on its flotation price of 175p in August 2018.

Lord Drayson, 60, who with his wife held a stake of almost 30 per cent before the placing, subscribed to shares worth almost GBP200,000.

Other directors also participated.

Shares in the company fell by up to 28.6 per