Horizon Discovery stock goes to a premium on first day’s trading
SHARES in life science research tools supplier Horizon Discovery got off to a sparkling debut on the first day of dealings yesterday.
Cambridge-based Horizon, which has been ranked as one of the fastest growing biotechnology companies in Europe by Deloitte, raised £40m in new money as part of its initial public offering at 180p, with the shares rising to 216.5p.
The issue was handled by Panmure Gordon and the new shares were distributed to a widely spread group of institutions.
Over 2013, Panmure Gordon raised £1.46bn for its corporate clients as UK markets benefited from a revival of new issues.