June 20 Allied Minds Plc said its
initial public offering was priced at 190 pence per share,
giving the U.S.-based company that commercialises research and
inventions from universities a market capitalisation of 398
Allied Minds said it expected to raise about 76.2 million
pounds ($130 million) from the IPO, less than the $140 million
it said last month it hoped to raise.
The offer comprises about 44.3 million new shares to be sold
by the company and 17.4 million shares to be offered by selling
shareholders, the Boston-based company said in a statement.
Selling shareholders are expected to receive about 32.3
million pounds from the float.
Conditional trading in the shares began on Friday. The stock
was trading at 190.75 pence at 0902 GMT. Unconditional trading
on the main market and admission to the London Stock Exchange's
premium listing segment are scheduled for June 25.
Jefferies International Ltd is acting as sponsor and
bookrunner for the listing and has an over-allotment option of
15 percent of the new shares in the offer.
($1 = 0.5864 British pounds)
(Reporting by Richa Naidu in Bangalore; Editing by Gopakumar