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Ark Therapeutics sells two units; shares plunge
March 15, 2013 / 12:25 PM / 5 years ago

Ark Therapeutics sells two units; shares plunge

March 15 (Reuters) - Healthcare specialist Ark Therapeutics Group Plc said it sold two units after a process to sell itself attracted only one bidder, which later withdrew its offer.

Shares of the company were down 39 percent at 0.5 pence at 1220 GMT on the London Stock Exchange.

Ark said it sold the units to WKD Holdings Oy for 1.3 million pounds ($2 million).

The company, which has a market value of about 1.90 million pounds, begun a formal sale process in January and appointed WG Partners LLP to evaluate strategic options after fundraising talks with shareholders fell apart. ($1 = 0.6643 British pounds) (Reporting By Abhirup Roy in Bangalore; Editing by Maju Samuel)

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