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UK's Exova sets price for $369 mln IPO

Reuters - UK Focus

LONDON, April 11 (Reuters) - British material testing company Exova said on Thursday it would sell 220 million pounds ($369.1 million) of shares in an initial public offering (IPO), after pricing shares at 220 pence each.

Exova said that the sale of shares would give the company a market capitalisation of 550 million pounds. Exova itself will receive 110 million pounds from the offer. Unconditional trading will begin on the London Stock Exchange (Other OTC: LDNXF - news) on April 16. ($1 = 0.5961 British Pounds) (Reporting By Freya Berry; editing by Steve Slater)