Oxford Nanopore Technologies has debuted on the London Stock Exchange to strong investor demand as shares in the former Woodford favourite rose more than 40% on open.
The biotech firm set an offer price of 425 pence per share, which would have given the firm a total market capitalisation of approximately £3.4bn. However, the stock opened considerably higher at 545 pence per share before rising as high as 622 pence per share, up 47% on its initial offer price. Investors in the former Woodford Equity Income fund, now LF Equity fund, will not be able to reap the benefits of Neil Woodford's long-standing belief in the company, as Link Fund Solutions sold off the fund's early investment in the firm last year for a severe writedown of more than 50%. T...
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