ARTICLE | Financial News

Horizon Discovery raises L40 million in London IPO

March 25, 2014 12:17 AM UTC

Cell line and assay supplier Horizon Discovery Group plc (LSE:HZD) raised L40 million ($66 million) through the sale of 22.2 million shares at 180p in a bumped up IPO on the London Stock Exchange. The price values the company at L120.5 million ($198.7 million). Last month, Horizon Discovery said it planned to raise up to L25 million ($41.6 million) in the offering. Panmure Gordon was advisor and broker. Selling shareholders also raised L28.6 million ($47.2 million) through the sale of 15.9 million Horizon Discovery shares. The company is slated to start trading on March 27.

Horizon Discovery offerings include its Genesis gene editing platform and X-Man isogenic cell line platforms. The company reported 2013 revenues of L6.6 million ($11 million). ...