28th May 2019 12:15
LONDON (Alliance News) - Medical technology provider Inspiration Healthcare Group PLC said Tuesday investee NPXe PLC is is no longer planning a London float.
NPXe, formerly known as NeuroproteXeon Ltd, announced its plan for an initial public offering back in June 2018, which was expected to complete in the second half of 2018. This was delayed in December for an unspecified period and has now been cancelled.
NPXe, a pharmaceutical and drug delivery device company in which Inspiration holds a 10% stake, is now pursuing a private offering in the US. UK investors can participate in the private US placing.
"Further announcements will be made should the company be made aware of material developments," said Inspiration.
Shares in Inspiration were up 0.8% at 67.50 pence on Tuesday.
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