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The City Pub Group – placing & open offer, a ‘well done’ or not?

By Steve Moore | Friday 27 March 2020


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


The City Pub Group (CPC) “is pleased to announce that… it has successfully placed 30,000,000 new ordinary shares at a price of 50 pence per share, raising gross proceeds of £15 million”. Last week though it stated “the company's balance sheet is strong… is confident the company has sufficient working capital to maintain its operations for at least another six months without further capital, even in the event the Government extends its current guidance and mandates a temporary closure of all pubs and bars”. Hmmm…

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