Intellectual property-based business developer IP Group said on Tuesday that portfolio company Oxford Nanopore Technologies had started the process of preparing for a potential initial public offering.
Whilst IP Group noted that the timing of a potential IPO was dependent on market conditions and other matters not fully within its control, Oxford Nanopore currently expects its floatation on the London Stock Exchange to occur in the second half of 2021.
IP Group currently holds a direct undiluted beneficial stake of 15.0% in Oxford Nanopore, valued at £340.3m.
As of 0900 GMT, IP Group shares were up 2.0% at 122.40p.
