Liberum acts as Nominated Adviser, Broker and Sole Bookrunner on the AIM IPO of SourceBio International plc raising £35m
We are pleased to announce that Liberum has successfully raised £35m in connection with the AIM IPO of SourceBio International plc. The shares were admitted to trading today, 29 October 2020.
SourceBio International plc (“SourceBio”) is a leading international provider of integrated state-of-the-art laboratory services and products in the healthcare, clinical, life science research and biopharma industries, with a focus on improving patient diagnosis, management and care. The Company employs approximately 235 employees across six sites globally, in the UK, Ireland and the USA with headquarters in Nottingham, UK.
On Admission, the market capitalisation of the Company was approximately £120 million.
The Placing attracted strong support from high quality institutional investors and was significantly over-subscribed.
The net proceeds of the Placing 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 the COVID-19 testing business, as well as pursue appropriate acquisitions.
The three main shareholders prior to the IPO, Harwood, Continental and Lombard Odier, have all retained a substantial shareholding in the Company, with Harwood and Lombard Odier also participating in the Placing.
Liberum acted as Nominated Adviser, Broker and Sole Bookrunner on the IPO, and is retained as NOMAD and Sole Broker to the Company post Admission.
Investment Banking – Bidhi Bhoma, Joshua Hughes, Euan Brown, William Hall, Miquela Bezuidenhoudt, Anthony Schia
Board – David Parsons
Sales – Oliver Baxendale, Alistair Smallwood, Jamie Vickers, Julian Collett, Seb Fernandez
Research – Graham Doyle, Fowey Harvey, Alistair Campbell
Legal – Rebecca Gordon, Alice Foster
CIR – Natalie Clarke
Settlement – Rob Simpson, Mark Proctor
Sales Trading – Mark O’Hara