LONDON (Alliance News) - Shares in clinical artificial intelligence firm Sensyne Health PLC rose Friday as it begins its first day on the London Stock Exchange.
Sensyne raised GBP60 million in its initial public offering, placing 34.3 million shares at 175 pence each to give it a market capitalisation of GBP225 million.
Peel Hunt LLP is acting as the company's nominated advisor and broker.
On Friday morning in early trade, Sensyne's shares were trading at 188.88p each, 7.9% higher than its IPO price.
Chief Executive Paul Drayson said: "Today marks an important milestone for Sensyne Health. The strong support from institutional investors for our IPO will enable us to grow our team of highly skilled clinicians, data scientists, and software developers to use the power of clinical AI to improve patient care and accelerate the development of new medicines.
"Our evolution into a public company has already stimulated further business development interest in our work and we are delighted to begin life as a public limited company on the London Stock Exchange."