Business
IP Group generates £84m from Oxford Nanopore IPO
IP Group generates £84m from Oxford Nanopore IPO.
About this update from Ip Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5219N\n IP Group PLC\n 30 September 2021\n \n \n \n \n \n \n \n FOR RELEASE ON\n \n \n \n \n 30 September 2021\n \n \n \n \n \n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.\n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE UK VERSION OF THE MARKET ABUSE REGULATION (EU NO. 596/2014) WHICH FORMS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.\n \n \n \n \n \n IP Group plc - Portfolio company Oxford Nanopore priced at £3.4billion, IP Group generates £84m of proceeds*; retains holding valued at £348.8m \n \n \n \n \n \n IP Group plc (LSE: IPO) (\"IP Group\" or \"the Group\"), the developer of intellectual property-based businesses, notes that portfolio company Oxford Nanopore Technologies plc (\"Oxford Nanopore\" or \"the Company\"), the Company behind a new generation of nanopore-based sensing technology, whose products enable the real-time, high-performance, scalable analysis of DNA and RNA, has \n announced the successful pricing of its initial public offering (the \"IPO\" or the \"Offer\") at 425 pence per Share (the \"Offer Price\"). The Company's market capitalisation will be approximately £3.4 billion at the commencement of conditional dealings on the main market of the London Stock Exchange.\n \n \n \n \n \n Oxford Nanopore noted that, following positive feedback from potential investors, it now intends to issue approximately 82.4 million new Shares raising gross process of approximately £350 million. The Offer also comprises approximately 41 million existing Shares to be sold by certain existing shareholders, equating to a total Offer size of c.£524 million. An additional c.18.5 million new Shares are being made available by the Company pursuant to the over-allotment option. \n \n \n \n \n \n IP Group announces that it has realised approximately 84m of proceeds* through the partial sale of its holding in Oxford Nanopore. Consistent with the Group's Capital Allocation Policy, the Board is allocating £15m of this realisation towards buybacks of its own shares, wit...