Arix raises £100m in oversubscribed IPO
(ShareCast News) - Life sciences company Arix has successfully raised £100m in its oversubscribed initial public offering, which comprised 48.31m shares.
Based on the offer price, Arix's total market capitalisation at admission would be £187m.
"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," said chief executive Joe Anderson.
He added that the IPO was supported by large institutional investors, pension funds, family offices, wealth managers and global pharmaceutical companies.
At 10:38 GMT, shares in Arix were trading at 210p each.