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ARTICLE | Financial News

PureTech plans $160M LSE listing

May 27, 2015 12:46 AM UTC

PureTech Ventures (Boston, Mass.) intends to raise about $160 million in an IPO on the London Stock Exchange in June. The firm plans to invest the proceeds to develop its existing portfolio companies' pipeline candidates and invest in new candidates. Jefferies and Peel Hunt are underwriters.

Spokesperson Ben Atwell said PureTech is choosing to list in London rather than the U.S. because U.K. investors have experience with companies with similar business models. He cited as an example Allied Minds plc (LSE:ALM), which invests and creates subsidiaries based around early stage researrch emerging from U.S. universities, federal research institutions and laboratories. Allied Minds' share price has more than tripled to 601.50p since the company listed last June. ...