IP Group crystallises £21m of Oxford Nanopore shares, retains majority of stake

IP Group has bought about £21m of shares in Oxford Nanopore, taking some revenue from one in all its most profitable holdings whereas retaining most of its stake.

The transfer comes after Oxford Nanopore shares doubled from July lows round 107p to the touch 217p this week.

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The know-how investor mentioned it had bought 10 million shares within the DNA-sequencing firm, however remained one in all its largest shareholders, with a 7.23% holding price round £151.5m at present costs. Funds managed by IP Group maintain an additional 11.8 million shares.

IP Group’s chief govt, Greg Smith, described Oxford Nanopore as “one of many standout successes” in its portfolio and mentioned the sale was an applicable partial realisation that preserved publicity to future positive factors whereas enhancing the group’s monetary flexibility.

Greg Smith, Chief Executive of IP Group, mentioned: “Oxford Nanopore has been one of many standout successes inside our portfolio and we stay robust supporters of the corporate, its administration crew and its long-term prospects.”

“This transaction represents an applicable partial realisation of our holding, demonstrating our potential to grasp worth from maturing portfolio corporations whereas preserving significant publicity to future upside. We retain a major financial backing in Oxford Nanopore, proceed to see substantial long-term potential within the enterprise and sit up for supporting its future growth as a serious shareholder.”

IP Group has agreed a 90-day lock-in on its remaining direct holding.