-Britain’s Oxford Nanopore has priced its London market debut at 425 pence per share, a bookrunner said on Tuesday, valuing the company at around 3.6 billion pounds ($4.92 billion) including its use of a greenshoe option.
The initial public offering (IPO) of the provider of rapid COVID-19 tests to Britain’s national health services would be significant for the London Stock Exchange as most British pharma and life science companies tend to list on New York’s Nasdaq.
The secondary offering for the float has also been increased by about 12.7 million shares, setting the final deal at about 601 million pounds, the bookrunner said, adding that books on the Oxford Nanopore debut were oversubscribed.
Last week, bookrunners had set an indicative price range of 375 to 450 pence per share on the offering, which is now expected to close one day earlier on Sept. 29.
Bank of America, Citi and JPMorgan are global coordinators for the IPO.
($1 = 0.7311 pounds)