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Xenetic cancels open offer in poor market conditions

This article was originally published in Scrip

Executive Summary

Xenetic Biosciences has cancelled the planned open offer of its shares after a restructuring of its ownership and the purchase of German firm SymbioTec took longer than originally anticipated and the AIM-listed company's share price fell below the proposed offer price. The cancellation of the offer had become increasingly likely as Xenetic's share price languished below the offer price of 11 pence.






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