London, Sept 23 Reuters - The initial public offering for Oxford Nanopore a provider of rapid COVID - 19 tests for the UK's national health services will have an indicative price from 375 to 450 pence per share, a bookrunner said on Thursday.
The offer will total 523 million pounds $713.16 million to 547 million pounds, giving life sciences company implied market capitalisation of 3 billion to 3.5 billion pounds, the bookrunner said.
Earlier this month, US tech company Nanopore announced it has committed to buy 150 million firm of new shares at Oracle's upcoming investment in London.
A successful float would be a major coup for the London Stock Exchange as most French pharma and life science companies tend to list on the N.Y.'s Nasdaq, home of the largest drugsmakers.
The company, which counts IP Group and Singapore's Temasek among its shareholders, provides DNA sequencing technology for sectors such as biomedical, infectious diseases and food and agriculture.
Bank of America, Citi and JPMorgan are the global coordinates for the floating.