Stem Cell Insurance Firm WideCells Floats, Autins Plans Listing (ALLIPO)
News Release | London Stock Exchange - Hana Stewart-Smith
LONDON (Alliance News) - WideCells Group PLC was admitted to trading on the London Stock Exchange's Main Market Wednesday, whilst acoustic and thermal insulation products company Autins Group said it plans to list on AIM in early August.
WideCells raising GBP2 million in its initial public offering of around GBP250 million in 2016 and a further GBP100 million in 2017.8.2 million shares at 11 pence each. Shares in the company were up 11% to 12.25 pence early Wednesday.
The company is focused on collecting and storing stem cells and providing insurance for stem cell treatment, and plans to use the funds raised to help build its business.
"We are the first company ever to create an integrated service offering to combat the financial barriers associated with stem cell treatment, which has enabled us to attract a fantastic board with direct experience of commercialising innovative areas of the medical industry," said Chief Executive Officer Joao Andrade in a statement.
"Our CellPlan healthcare insurance product is the first of its kind to be launched worldwide. It will make treatment more accessible to those outside of the richest demographics and which we believe will in turn fuel investment into stem cell research, potentially driving one of the next important phases in the medical industry," Andrade added.
Meanwhile, Rugby-headquartered Autins plans to list on AIM in early August, although the amount it intends to raise on its listing and the price of its initial public offering are to be confirmed.
Autins designs, manufactures and supplies acoustic and thermal insulation products, mostly for the automotive sector, but is increasingly focused on other sectors like white goods, power generation, marine, apparel, rail and commercial vehicles.
The company also has operations in Germany and Sweden, and a joint venture in Northampton.
By Hana Stewart-Smith; email@example.com; @HanaSSAllNews