RE: And we're off!30 Sep 2021 12:06
Shares in life sciences business Oxford Nanopore Technologies soared in conditional dealings, following its float on the Main Market of the London Stock Exchange. Oxford Nanopore priced its initial public offering at 425 pence per share, giving a market capitalisation of around GBP3.4 billion. Conditional trading began on Thursday, and the shares were up 43% from the issue price at 608.70p, growing the market cap to about GBP4.84 billion. Unconditional dealings begin on October 5. Oxford Nanopore issued 82.4 million new shares, raising about GBP350 million for the company. Another GBP524 million was made by selling shareholders such as IP Group. The Oxford University spin-out is a technology commercialisation specialist focused on DNA and RNA strand sequencing.