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- Mark Pritchard, Allied Minds Executive Chairman, opens London trading
- IPO raises net proceeds of approximately £76.2 million, valuing firm at £398 million
- 96 US-based firms now traded on London Stock Exchange
- 18th technology firm to list on London Stock Exchange in 2014
London Stock Exchange today welcomes Allied Minds, the US-focused science and technology development and commercialisation company founded in 2004. To mark the company’s first day of conditional trading, Mark Pritchard, Executive Chairman of Allied Minds, formally opened the market, celebrating the firm’s IPO on the Premium Segment of the Main Market. The company is valued at £398 million at admission.
Boston-based Allied Minds, which has partnerships with 33 US universities and 26 US federal government institutions, is the 18th technology business to list on London Stock Exchange in 2014. These 18 companies have a combined market capitalisation of £6.1 billion and have raised nearly £2.3 billion, over 100 per cent more capital than in the whole of 2013. Overall, there have been more than 65 IPOs in 2014 that have raised nearly £10 billion. There are now 43 and 53 US-based firms listed on the Main Market and AIM respectively.
Alex Lehmann, Head of Primary Markets, Americas, London Stock Exchange Group said:
“Allied Minds has an impressive 10-year history of turning invention into innovation by forming, funding, managing and building start-ups based on early-stage technology. London continues to serve as the world’s leading financial market and is experiencing increasing interest from international firms based in the Americas. We’re delighted to welcome the US-based firm Allied Minds to the Main Market Premium Segment today.”
Chris Silva, Chief Executive Officer, Allied Minds said:
"The successful pricing of our initial public offering on the London Stock Exchange marks a major milestone in the company’s progress. With our extensive partner network, our innovative screening and evaluation process, and our disciplined approach to allocating capital and resources to our businesses, Allied Minds has successfully built a diversified portfolio of 18 businesses and a portfolio of promising intellectual property assets. The funds raised at IPO will enhance and accelerate our ability to commercialize innovative science and technologies from U.S. universities and government research institutions."
