top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Stock Markets

30 Sept 2021

Oxford’s Nanopore raises 350M pounds in London IPO

The Index Today

Oxford Nanopore Technologies Ltd has been valued at 3.4 billion pounds at a London Share sale which supports tech stocks in the U.K.

The IPO shares were priced at 425p each during the top half initial range. The firm has managed to raise 350 million pounds through sale of its new stock and 174 million pounds through existing shares. Since the IPO, Nanopore has increased its market value by $1 billion since May, making it one of the most valuable startups in the nation.

Gordon Sanghera, founder and CEO has given the company special shares which hold the power to block any takeover threat. The firm aims to allow various classes of shares on the London Stock Exchange’s premium market. However, the company is still ineligible for a few major benchmarks including the Russell Indexes Trading.

Nanopore managed to sell more shares in the initial IPO due to unexpected high demand. The firm has provided Covid test kits to the government branch of health services and has also provided its own sequencing technology to researchers to help identify the genome of the SARS virus and to track variants.

©Photo: Capital.com

Clay pottery with table linens
bottom of page