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Share Price:
Up 251.00p
Change Today:
2.00p
Market Cap:
1,668.10m
Sector:
Equity Investment Instruments

Syncona portfolio company Freeline prices US IPO

By Josh White

Date: Friday 07 Aug 2020

LONDON (ShareCast) - (Sharecast News) - Healthcare investment company Syncona announced on Friday that its portfolio company Freeline Therapeutics has priced its initial public offering in the United States.
The FTSE 250 company said the offering would consist of 8,823,529 American depositary shares, at a price of $18 each, raising total gross proceeds of about $158.8m (120.8m).

All depositary shares sold in the IPO were offered by Freeline, with each representing one ordinary share.

The shares are expected to begin trading on the Nasdaq Global Select Market on Friday, under the ticker symbol 'FRLN'.

Following the IPO, Syncona said it would retain a stake of 49% in Freeline, amounting to 18,814,527 ordinary shares, with a total value of 257.7m, having agreed to invest $24.3m in the IPO.

That included an increase in the value of its current shareholding of 57.7m, compared to the 30 June reported value of 181.5m.

"In the five years since Syncona founded Freeline, the company has brought multiple programmes to the clinic, with a cutting-edge manufacturing platform and expert management team," said Syncona Investment Management chief investment officer Chris Hollowood.

"Today's milestone is a significant achievement for the business, and we look forward to continuing to work in close partnership with the management team as it looks to realise its ambition to deliver treatments to patients."

At 0817 BST, shares in Syncona were down 1.17% at 254p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

SYNC Market Data

Currency UK Pounds
Price 251.00p
Change Today 2.00p
52 Week High 269.50p
52 Week Low 180.00p
Volume 348,512
Shares Issued 664.58m
Market Cap 1,668.10m

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What The Brokers Say

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Buy 1
Neutral 1
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SYNC Dividends

  Latest Previous
  Final Final
Ex-Div 20-Jun-19 21-Jun-18
Paid 29-Jul-19 30-Jul-18
Amount 2.30p 2.30p

Trades for 27-Oct-2020

Time Volume / Share Price
15:29 80 @ 251.00p
15:29 299 @ 250.50p
15:29 144 @ 250.50p
15:29 297 @ 250.50p
15:29 430 @ 250.50p

SYNC Key Personnel

Chair Melanie Gee