Oxford Biodynamics ticks up after IPO

Biomarkers company Oxford Biodynamics plc (LSE:OBD) gained 1p to 159p in its first day of trading Tuesday. Last week, the company raised L7.1 million ($8.8 million) through the sale of 4.5 million shares at 158p. Existing investors raised L12.9 million ($15.9 million) through the sale of 8.2 million shares in a concurrent private placement.

Based on the offering price, Oxford Biodynamics had a postmoney valuation of L136 million ($167.8 million). Stifel was the placement agent. ...