London, February 26, 2026, 11:39 GMT — Regular session
- IQE shares jumped in London, sending the AIM-listed chip materials group to its best mark of the year.
- New filings on fresh positions and dealings related to the stock popped up in offer-period disclosures under the UK Takeover Code.
- Eyes are fixed on IQE’s ongoing strategic review, with traders watching closely for any hint that a formal bidder might enter the picture.
IQE Plc shot up on Thursday, sending the AIM-listed chip materials group to its best level of the year. The small-cap stock also saw robust trading activity.
IQE shares surged 20.35% to 19.28 pence as of 11:39 a.m. GMT, up 3.26 pence on the session. They briefly touched 20 pence before easing back. Roughly 55 million shares changed hands. The previous close sat at 16.02 pence. 1
IQE remains in an “offer period” under the UK Takeover Code, meaning tighter requirements for position and deal disclosures are in force. The Takeover Panel’s disclosure table on Thursday still had IQE marked as offeree—offer period began Sept. 8, 2025—but there’s no bidder shown. 2
The stock keeps popping up on takeover-watch lists, even though the company hasn’t said a word. In January, IQE disclosed it had received non-binding bids—some aiming for the whole company, others just parts of it. After a better second half, management now sees full-year results hitting the higher end of guidance. 3
River Global Investors LLP reported holding about 1.9938% of IQE, a stake revealed in a Form 8.3 filing Thursday. Under the Code, investors with a position of at least 1% during an offer period must file these forms, which put their public stakes and trades on display. 4
Deutsche Bank AG London filed a Form 8.5, a disclosure required under the Takeover Code for certain market players. The filing shows the bank purchased 237,469 IQE shares and offloaded 284,992 shares on Feb. 25. Deutsche Numis is named in the document as joint corporate broker for IQE. 5
The rally accelerated in a hurry. According to Morningstar data, IQE closed at 12.20 pence on Feb. 24, after leaping 16% in the session before. Then Thursday’s jump catapulted the stock to roughly 58% higher than its Tuesday close. 6
Compound wafer maker IQE ended 2025 with £15.6 million in cash on hand, the company said in its January update. HSBC granted IQE a waiver on its Q4 EBITDA covenant test. The group pointed to healthy orders for the first quarter. 7
Chief Executive Jutta Meier struck an upbeat tone in her update to investors earlier this year, saying she was “pleased to report a positive second half of trading for IQE in 2025.” She pointed to trading momentum as a highlight. 8
IQE says its strategic review covers a broad spectrum, with sluggish handset demand and timing around U.S. defense funding emerging as key issues for its main business lines. Back in September, the company revealed it’s thinking about a full sale as an option, after interest from a potential acquirer. But it also flagged there’s no certainty any firm offer will come through. 9
But paperwork filed during the offer period doesn’t clinch a deal. IQE keeps pointing out that its statement—issued under takeover code requirements—doesn’t amount to a binding offer. No certainty, either, that a deal will emerge or what terms might ultimately land. 10
Traders are watching closely for word on who’s making a move, while the next set of filings approaches and shares keep bouncing around. The Takeover Panel’s disclosure table spells out exactly when the offer period kicks off and which deadlines apply; any holder with at least 1% must file by 3:30 p.m. London time on the first business day after trading. That locks in Friday, Feb. 27, as the date for the upcoming disclosures. 11
