StockMarketWire.com - Arix Bioscience, a global healthcare and life science company supporting medical innovation, has raised £100m in its initial public offering.

It said the offer was oversubscribed and comprised 48,309,179 new ordinary shares to be issued by the company.

Based on the offer price, Arix Bioscience's total market capitalisation at admission will be £187m.

Jefferies International has been granted an over-allotment option for 30 days over up to a maximum of 7,246,376 ordinary shares, representing 15% of the new ordinary shares in the offer.

Chief executive Dr Joe Anderson said: "We are really pleased to see such strong demand for our IPO from a broad range of investors in this oversubscribed offering.

"This is a vote of confidence for the life-science sector.

"We have a highly experienced international team and this new capital enables us to continue our commitment to supporting businesses in the vanguard of medical innovation, with the ultimate goal of improving outcomes for patients and unlocking value for investors.

"The IPO has received broad support from respected groups, including large institutional investors, pension funds, family offices, wealth managers and global pharmaceutical companies.

"The intermediaries offer was also strongly supported by retail investors. We believe this demonstrates the growing appeal of this opportunity to convert promising science into important new medicines.

"We'd like to thank all our existing and new shareholders for their fantastic support and look forward to continued success in the future."


At 8:48am: [LON:ARIX] share price was +208.63p at 208.63p



Story provided by StockMarketWire.com