Verona Pharma to list on Nasdaq

AIM-listed Verona Pharma has launched a global offering of its shares in order to list on the Nasdaq.

The biopharmaceutical’s global offering comprises of 5.6m American depository shares to be converted at its AIM price of $13.49 to raise $75m at a diluted market value of $163m, and private placement in Europe of ordinary shares and other countries outside of North America.

The American depository shares will be listed on the Nasdaq Global market and the ordinary shares will be admitted to trade on AIM.

Shares in Verona Pharma were down 1.08% to 137p at 1153 BST.