Thursday, June 17, 2021

SourceBio International admitted to AIM

SourceBio International, a provider of integrated laboratory services and products, has stated trading its shares on AIM.

The news comes after the Nottingham-based firm’s IPO raised gross proceeds of £35.0 million. The market capitalisation of the company is approximately £120.2 million on admission.

The money raised will be used to repay outstanding shareholder and bank loans and for general corporate expenses, including working capital and capital expenditure required in order to further scale-up its COVID-19 testing business.

Jay LeCoque, Executive Chairman, said: “We are delighted by the strong support we’ve received from new institutional investors and our existing shareholders.

“Our IPO on AIM allows us to significantly increase our COVID-19 testing capacity, accelerate earnings growth in our core business and execute on potential M&A opportunities.

“It’s an exciting time for our business and we look forward to executing on our ambitious growth plans and delivering value to our shareholders.”

The firm was previously listed on the main London market, but it was taken private by shareholders, including Harwood Capital and Continental Investment Partners, in 2016, in a £63m deal.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.







Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close