By Abhinav Ramnarayan
LONDON (Reuters) – Oxford Nanopore, provider of rapid Covid-19 tests to the UK national health service, is working with banks to launch an initial public offering (IPO) on the London Stock Exchange in the coming weeks – a deal that it would strengthen British attempts to attract scientific companies to its main market.
The company will try to beat the 2.48 billion pounds ($3.42 billion) valuation it received in a financing round in May, two knowledgeable sources said.
The company, which includes the IP Group and Singapore-based Temasek among its shareholders, provides DNA/RNA sequencing technology for industries such as biomedicine, pathogens, plant and animal scientific research, infectious diseases, food and agriculture. Also worked with quick tests of Covid-19.
The IPO will be one more in a long line of equity offerings expected for London and other European hubs in the last IPO window of the year, with 2021 on track to hit a record in new listing volumes, dominated by technology and e-mail companies. commerce.
A company spokeswoman declined to comment.
Bank of America, Citi and JPMorgan are global coordinators of the London listing.
In May, Oxford Nanopore held a £195m financing round that made Temasek, Wellington Management, M&G Investments and Nikon new investors in the company.
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