IP Group (IPO)

Sector:

Financials

Index:

FTSE 250

82.20p
   
  • Change Today:
      3.15p
  • 52 Week High: 155.20
  • 52 Week Low: 77.25
  • Currency: UK Pounds
  • Shares Issued: 1,034.09m
  • Volume: 1,372,815
  • Market Cap: 850.03m
  • RiskGrade: 192

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Shares soar as Oxford Nanopore makes its London debut

By Abigail Townsend

Date: Thursday 30 Sep 2021

LONDON (ShareCast) - (Sharecast News) - Shares in Oxford Nanopore Technologies surged on Thursday after the British biotech made its 3.4bn debut on the London Stock Exchange.
The initial public offering was priced at 425p, giving the firm, a specialist in DNA sequencing, a market value of 3.4bn when conditional trading got underway on Thursday.

The shares immediately started to climb, however, reaching 570p within the first hour of trading. By 1030 BST they were trading at around 605p.

Oxford Nanopore, which has also developed technology that enables the sequencing of Covid-19 variants, issued approximately 82.4m new shares, raising gross proceeds of around 350m.

Existing shareholders, including the London-listed investor IP Group, sold a further 41m shares, giving the total offer size of around 524m.

IP Group, which provided seed capital when Oxford Nanopore was spun out of Oxford University in 2005, raised around 84m. Of that, 15m will be allocated to a buyback programme, with the rest invested into its portfolio. It retains a 10.3% stake in Oxford Nanopore.

Proceeds from the IPO will be used to fund future growth. Gordon Sanghera, Oxford Nanopore chief executive, said the company was "in the foothills of a long and exciting journey".

He continued: "We are living on the cusp of a genomic era. I believe that our unique technology will open up many new possibilities for positive impact, both through enabling new discoveries in scientific research and through more accessible, faster [and] richer biological insights.

"We are delighted by the positive response we have received from investors. Our focus remains on continuing to innovate, grow, and working towards our goal of enabling the analysis of anything, by anyone, anywhere."

Unconditional trading in Oxford Nanopore is expected to start on Tuesday 5 October.

As at 1030 BST, shares in IP Group were ahead 3% at 140.2p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

IP Group Market Data

Currency UK Pounds
Share Price 82.20p
Change Today 3.15p
% Change 3.98 %
52 Week High 155.20
52 Week Low 77.25
Volume 1,372,815
Shares Issued 1,034.09m
Market Cap 850.03m
RiskGrade 192

IP Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
74.76% above the market average74.76% above the market average74.76% above the market average74.76% above the market average74.76% above the market average
75.21% above the sector average75.21% above the sector average75.21% above the sector average75.21% above the sector average75.21% above the sector average
Price Trend
29.86% below the market average29.86% below the market average29.86% below the market average29.86% below the market average29.86% below the market average
29.93% below the sector average29.93% below the sector average29.93% below the sector average29.93% below the sector average29.93% below the sector average
Income
31.77% below the market average31.77% below the market average31.77% below the market average31.77% below the market average31.77% below the market average
37.66% below the sector average37.66% below the sector average37.66% below the sector average37.66% below the sector average37.66% below the sector average
Growth
92.86% above the market average92.86% above the market average92.86% above the market average92.86% above the market average92.86% above the market average
86.55% above the sector average86.55% above the sector average86.55% above the sector average86.55% above the sector average86.55% above the sector average

What The Brokers Say

Strong Buy 3
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 3
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

IP Group Dividends

  Latest Previous
  Final Interim
Ex-Div 26-May-22 12-Aug-21
Paid 30-Jun-22 27-Sep-21
Amount 0.72p 0.48p

Trades for 20-May-2022

Time Volume / Share Price
17:13 1,180 @ 82.40p
17:13 2,320 @ 82.40p
16:35 218,255 @ 82.20p
16:29 569 @ 82.40p
16:29 1,931 @ 82.40p

IP Group Key Personnel

CEO Greg Smith

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