Pharmaceutical company seek guidance for IPO
28th September 2012
A raft of London solicitors with high-ranking equity and corporate legal jobs have been given the task of advising the pharmaceutical company Clinigen as it embarks on its UK Initial Public Offering (IPO).
IPOs are rare in this particular industry, so the organisation’s heads are going to great lengths to make sure the transaction is completed smoothly and the process not held up by any avoidable stumbling blocks.
Spokespeople from Clinigen have stated that their market capitalisation will amount to £135 million, and that their forthcoming listing has been made possible by the fact that they have put aside £50 million over the last few years with this end result in mind. According to the company, £10 million of this total came in the form of a cash investment which will now be put towards new acquisitions.
The banking and broker group Numis Securities were called on by one of the hired firms to conduct the float itself.