11th Jun 2018 09:36
(Correcting Syncona and Woodford's shareholding value in Autolus Therapeutics following the ADS offering)
LONDON (Alliance News) - Healthcare investor Syncona Ltd said Friday that its investee Autolus Therapeutics PLC has filed for an initial public offering of American depositary shares in the US.
The initial price for the offering falls in the range of USD15.00 to USD17.00 per share, which would represent an increase in the value of Syncona's current shareholding in the range of GBP49.5 million to GBP67.7 million on top of the company's current holding.
According to the company's website, Syncona holds a 38.4% stake in Autolus, a biopharmaceutical firm focused on developing programmed T cell therapies for the treatment of cancer.
The proposed maximum aggregate offering amount specified in the filing is USD125.0 million.
Separately, Woodford Patient Capital Trust PLC also noted the IPO, which would represent an increase in the value of its shareholding between GBP25.9 million and GBP35.1 million.
As at April 23, Woodford held a 4.81% stake in Autolus, according to the company's website.
Arix Bioscience PLC also holds an 8.6% stake in Autolus but didn't issue a statement about the IPO on Friday.
Related Shares:
WPCT.LARIX.LSyncona