Schroder UK Public Private Tst plc Oxford Nanopore Files Notice of Intention to Float (9926L)
16 September 2021 - 6:13PM
UK Regulatory
TIDMSUPP
RNS Number : 9926L
Schroder UK Public Private Tst plc
16 September 2021
Schroder UK Public Private Trust plc (the "Company")
Oxford Nanopore Files Notice of Intention to Float
The Company (LSE: SUPP) is pleased to note that its portfolio
company Oxford Nanopore Technologies Limited ("Oxford Nanopore")
has today filed notice of its intention to float.
As part of the potential initial public offering ("IPO"), it is
expected that the company will include a limited secondary offer.
Final details on sizing will be made available when the final
prospectus is published. While the Company remains highly confident
of Oxford Nanopore's prospects to realise a strong IPO and generate
continuous shareholder value, given the large position of Oxford
Nanopore in the Company's portfolio (21.8% of its Net Asset Value
as at 31 March 2021), the Company will seek to further diversify
its portfolio through a partial realisation of its holding. The
Company will use the proceeds from the partial realisation to
invest in existing and new portfolio companies.
The Company's 3.7% stake in Oxford Nanopore was valued at
GBP90.7 million as at 31 March 2021, an implied total equity value
of GBP2.5bn. It is anticipated that the Company's AIFM will revalue
the holding based on the trading price of Oxford Nanopore's shares,
in line with the other quoted investments in the portfolio. The
Company will release a further update once the pricing of Oxford
Nanopore's IPO has been announced.
Enquiries:
Schroder Investment Management Limited
Gareth Faith Tel: 020 7658
5264
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