16 Sep 2021 09:14
Schroder UK Public Private Trust plc (the "Company")
Oxford Nanopore Files Notice of Intention to Float
The Company (LSE: SUPP) is pleased to note that its portfolio company Oxford Nanopore Technologies Limited ("Oxford Nanopore") has today filed notice of its intention to float.
As part of the potential initial public offering ("IPO"), it is expected that the company will include a limited secondary offer. Final details on sizing will be made available when the final prospectus is published. While the Company remains highly confident of Oxford Nanopore's prospects to realise a strong IPO and generate continuous shareholder value, given the large position of Oxford Nanopore in the Company's portfolio (21.8% of its Net Asset Value as at 31 March 2021), the Company will seek to further diversify its portfolio through a partial realisation of its holding. The Company will use the proceeds from the partial realisation to invest in existing and new portfolio companies.
The Company's 3.7% stake in Oxford Nanopore was valued at £90.7 million as at 31 March 2021, an implied total equity value of £2.5bn. It is anticipated that the Company's AIFM will revalue the holding based on the trading price of Oxford Nanopore's shares, in line with the other quoted investments in the portfolio. The Company will release a further update once the pricing of Oxford Nanopore's IPO has been announced.
Enquiries:
Schroder Investment Management Limited
Gareth Faith | Tel: 020 7658 5264 |