Schroder UK Public Private Tst plc Oxford Nanopore Files Notice of Intention to Float (9926L)

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RNS Number : 9926L

Schroder UK Public Private Tst plc

16 September 2021

Schroder UK Public Private Trust plc (the "Company")

Oxford Nanopore Files Notice of Intention to Float

The Company (LSE: SUPP) is pleased to note that its portfolio company Oxford Nanopore Technologies Limited ("Oxford Nanopore") has today filed notice of its intention to float.

As part of the potential initial public offering ("IPO"), it is expected that the company will include a limited secondary offer. Final details on sizing will be made available when the final prospectus is published. While the Company remains highly confident of Oxford Nanopore's prospects to realise a strong IPO and generate continuous shareholder value, given the large position of Oxford Nanopore in the Company's portfolio (21.8% of its Net Asset Value as at 31 March 2021), the Company will seek to further diversify its portfolio through a partial realisation of its holding. The Company will use the proceeds from the partial realisation to invest in existing and new portfolio companies.

The Company's 3.7% stake in Oxford Nanopore was valued at GBP90.7 million as at 31 March 2021, an implied total equity value of GBP2.5bn. It is anticipated that the Company's AIFM will revalue the holding based on the trading price of Oxford Nanopore's shares, in line with the other quoted investments in the portfolio. The Company will release a further update once the pricing of Oxford Nanopore's IPO has been announced.

Enquiries:

Schroder Investment Management Limited

 
 Gareth Faith   Tel: [phone] 
                         5264 
 

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September 16, 2021 04:13 ET (08:13 GMT)