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Oxford Nanopore gets Oracle backing for IPO

Reuters
·1-min read

LONDON (Reuters) - British life sciences company Oxford Nanopore said on Thursday that U.S. tech company Oracle is to buy 150 million pounds ($207.38 million)of new shares at its upcoming initial public offering in London.

Oracle Corporation will subscribe to the shares at the offer price as part of a collaboration agreement between the two companies. Oxford Nanopore said it is expected to sell 300 million pounds of new shares in total as well as stock held by some existing shareholders, in a listing that aims to build on the 2.4 billion pound valuation it achieved in its last funding round.

($1 = 0.7233 pounds)

($1 = 0.7233 pounds)

(Reporting by Simon Jessop; Editing by Rachel Armstrong)