BioCentury
ARTICLE | Financial News

PureTech raises L108.2M in London IPO

June 20, 2015 1:00 AM UTC

PureTech Health plc (LSE:PRTC) raised L108.2 million ($168 million) through the sale of 67.6 million shares at 160p in an IPO underwritten by Jefferies and Peel Hunt. The price values the company at L363.6 million ($564.7 million). PureTech expects trading of its shares to begin on June 24.

Last month, the science and technology development firm said it planned to raise about $160 million via a listing. At the time, PureTech told BioCentury it chose to list in London rather than the U.S. because U.K. investors have experience with companies with similar business models. The firm provides seed funding to new companies that are set up as operating subsidiaries, then seeks investors as the newcos mature (see BioCentury Extra, May 26). ...