RE: Is the Abingdon IPO going ahead?20 Nov 2020 13:27
I missed this at time,.
“ Lead UK Rapid Test Consortrium partner Abingdon Health is testing the market for a £100m IPO with a decision to be made whether to go ahead set to be concluded this week.
The company is reportedly looking to raise £20m to fund its expansion and it shares could be admitted to AIM as early as Friday this week.
Picking up on a note from broker N+1 Singer, Sky News notes that much of the rationale behind the IPO is on the basis of the COVID-19 antibody test, of which includes Omega Diagnostics as a consortium partner.
This will be the main driver for it achieving a £100m valuation upon a potential listing.
Abingdon has recently dismissed negative tabloid coverage of the rumoured accuracy of the respective test while sources have told Sky News that there has been positive feedback on Abingdon (likely due to the need for antibody testing amid a suitable vaccine) despite others falling in the COVID-19 testing space generally.”