London-based Avanti Communications suffered an all-time low price for its shares on May 5th, falling 8.5 per cent to 9.49p. One month ago the price was 12.56p, although this itself was massively down on its 96p price a year ago. Sellers of Avanti stock were being offered 9.25p for their shares.
The collapse in Avanti’s share price means that the company’s market capitalisation is now barely £15 million.
According to Avanti’s share ownership (at March 31st) showed that key investors include M&G Investment Management (16.9 per cent), Solus Alternative Asset Mgt (15.8 per cent), MAST Capital (13.8 per cent), Hargreaves Lansdown (5 per cent) and other smaller stakes held by Caledonia Investments, Capital Grp, TD Waterhouse, Bank of America Merrill Lynch and Barclays.