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Circassia raises L200M in London IPO

March 13, 2014 11:39 PM UTC

Allergy company Circassia Pharmaceuticals plc (LSE:CIR) raised L200 million ($334.2 million) through the sale of 64.5 million shares at 310p in an IPO on the London Stock Exchange -- the largest biotech IPO in the U.K., according to the company. The price values Circassia at L581 million ($970.8 million). JPMorgan; Peel Hunt; Canaccord; and Shore Capital Stockbrokers are underwriters. Shareholders also raised L9 million ($15 million) through the sale of 2.9 million shares in a concurrent secondary offering. Circassia is slated to start trading on March 18. ...