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Pin to quick picksAbcam Share News (ABC)

Share Price Information for Abcam (ABC)

London Stock Exchange
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Share Price: 1,490.00
Bid: 1,491.00
Ask: 1,494.00
Change: 18.00 (1.22%)
Spread: 3.00 (0.20%)
Open: 1,482.00
High: 1,496.00
Low: 1,464.00
Yest. Close: 1,472.00
ABC Live PriceLast checked at -

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Abcam Nets Additional USD24 Million Under ADS Offering

Fri, 23rd Oct 2020 11:00

(Alliance News) - Life science research software firm Abcam PLC on Friday said it has netted an additional USD23.5 million following exercise of over-allotment options by underwriters of the company's American Depositary share offering.

The underwriters have elected to purchase an additional 1.3 million ADSs at USD17.50 per ADS, raising an additional USD23.5 million and bringing the total gross proceeds of the offering to USD180.0 million.

Earlier in October, the company had launched the ADS offering to list on the Nasdaq Global Market, stating that each ADS offered represents one ordinary share. On Thursday, it had priced its initial public offering of 8.9 million ADS at USD17.50 per share, totalling USD156.5 million.

Morgan Stanley and BofA Securities acted as the lead book-running managers for the ADS offering. SVB Leerink acted as a book-running manager, and Lazard and William Blair acted as co-managers.

Shares in Abcam were down 0.8% at 1,414.00 pence each in London on Friday morning.

By Tapan Panchal; tapanpanchal@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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