Schroder UK Public Private Tst plc Oxford Nanopore Completes IPO (5481N)
30 Septiembre 2021 - 4:09AM
UK Regulatory
TIDMSUPP
RNS Number : 5481N
Schroder UK Public Private Tst plc
30 September 2021
Schroder UK Public Private Trust plc (the "Company")
Oxford Nanopore Completes IPO
The Company (LSE: SUPP) is pleased to announce that its
portfolio company Oxford Nanopore Technologies Limited ("Oxford
Nanopore") has announced the successful pricing its initial public
offering ("IPO") at a price of 425p per share.
As part of the IPO, existing shareholders were offered the
possibility to sell up to 10% of their shareholding in Oxford
Nanopore at the IPO price. The Company has opted for the
divestiture of 10% of its current shareholding. While the Company
remains highly confident of Oxford Nanopore's prospects to generate
continuous shareholder value, given the large position of Oxford
Nanopore in the Company's portfolio of 24.6% of its Net Asset Value
as at 30 June 2021, the Company decided to diversify its portfolio
through the partial realisation. Net proceeds to the Company from
the secondary share sale amount to c. GBP11.0 million. The
Company's remaining stake in Oxford Nanopore based on the IPO price
amounts to c. GBP99.2m, which combined with the proceeds of the
share sale amount to a 21.4% uplift to the last disclosed fair
value of the holding as at 30 June 2021.
The Company's remaining shares in Oxford Nanopore are restricted
from resale for a period of 180 days under market standoff and
lock-up agreements. It is anticipated that the Company's AIFM will
revalue the holding based on the trading price of Oxford Nanopore's
shares. This will be reflected in the NAV as at 30 September 2021,
which is expected to be announced in November 2021.
Tim Creed and Roger Doig, Portfolio Managers of the Company,
commented: "We are proud to have supported Oxford Nanopore and its
management team in its exciting development. Schroder UK Public
Private Trust has been a supporter of Oxford Nanopore and this
highly successful IPO underpins the quality of Oxford Nanopore's
technology and the commercial progress achieved over the last
years. We remain highly confident in Oxford Nanopore's ability to
generate significant further shareholder value for the Company in
the mid- and long-term. We are also pleased that the listing will
continue the further re-balancing of the Company's portfolio."
Enquiries:
Schroder Investment Management Limited
Estelle Bibby (Press) Tel: 020 7658
3431
Gareth Faith Tel: 020 7658
5264
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END
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September 30, 2021 05:09 ET (09:09 GMT)
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