I didn’t realise it had opened yet as I’ve heard nothing from my investment platform. But I see from the RNS that the offer runs from 25/9 until 14/10. I still don’t really understand the rationale for this. Why is #NIOX tendering for 26M shares at 80p when it could buy them in the market at 68p?

It's a way of returning funds to shareholders. think along lines of a buyback. co buys shares then cancels some thereby increasing value of remaining shares well a tender is similar but it is guaranteeing shareholders a fixed amount for their shares at a premium as a return to them . Reasons 👇