Abcam Proposes US Stock Listing; Co-Founder To Step Down From Board

(Alliance News) - Life sciences company Abcam PLC on Monday announced its co-founder Jonathan Milner has stepped down from the board and that the company has filed a registration statement to list shares in the US.

Abcam said it has filed a registration statement with the US Securities and Exchange Commission relating to a proposed initial public offering of its shares in the US.

All shares to be sold will be offered by the company. The specifics of the offering have yet to be determined.

Abcam said: "The offering is subject to market conditions, and there can be no assurance as to whether, or when, the offering may be completed or as to the actual size or terms of the offering."

Abcam has applied to have its shares listed on the Nasdaq Global Market. The company's shares will continue to be admitted to trading on the AIM market of the London Stock Exchange.

Morgan Stanley & Co LLC and BofA Securities are acting as the lead book-running managers for the offering. SVB Leerink LLC is acting as a book-running manager, and Lazard Freres & Co LLC and William Blair & Company LLC are acting as co-managers.

Abcam additionally announced that co-founder and Non-Executive Deputy Chair Jonathan Milner has stepped down from the board, effective immediately.

This follows an announcement in June which said he would be stepping down to allow him to focus on his growing portfolio of early stage company investments.

Chief Executive Alan Hirzel said: "I thank Jonathan for his extraordinary vision and determination in creating Abcam in 1998. His early dedication to leading the business in the early years and his later role on the board, helped Abcam achieve its leadership position today. I wish him continued success as he nurtures other life sciences companies through stages of growth."

Abcam shares were up 1.4% at 1,239.00 pence each in London on Monday.

By Greg Roxburgh; gregroxburgh@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.