Oxford Nanopore to Raise GBP300 Million in London IPO
September 16 2021 - 3:32AM
Dow Jones News
By Jaime Llinares Taboada
Oxford Nanopore Technologies Ltd. said Thursday that it intends
to raise around 300 million pounds ($415.3 million) at its initial
public offering in London, half of which will be provided by
Texas-based software provider Oracle Corp.
The DNA-sequencing specialist, which had announced its intention
to float in London last week, said it has signed a cornerstone
investment agreement with a vehicle controlled by Oracle for the
latter to subscribe for GBP150 million of new shares in Oxford
Nanopore.
The company also said it recently entered into a memorandum of
understanding with Oracle for them to collaboratively explore new
solutions. As part of this deal, Oxford Nanopore intends to migrate
its EPI2ME data analysis platform to Oracle's cloud
infrastructure.
"The directors believe that the group remains only in the early
stages of what is possible and believe that the offer and admission
will position the group for the next stage of its development and
support its ambitious growth plans," Oxford Nanopore said.
IP Group PLC has a 14.4% stake in Oxford Nanopore.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
September 16, 2021 03:17 ET (07:17 GMT)
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