Tekcapital investee Guident files for proposed US IPO

(Sharecast News) - Tekcapital said Thursday that its portfolio company Guident has filed a registration statement with the US Securities and Exchange Commission for a proposed initial public offering of its common stock on Nasdaq under the ticker GDNT. The AIM-traded intellectual property investment group, which focuses on commercialising university technologies, said the number of shares to be sold and the price range for the offering had not yet been determined.

It said Guident intended to launch the IPO following completion of the SEC review process, subject to market conditions.

Tekcapital currently owns 70% of Guident's share capital.

It cautioned that there could be no certainty over the total proceeds to be raised, and said further announcements would be made as required.

At 1056 BST, shares in Tekcapital were up 19.21% at 8.35p.

Reporting by Josh White for Sharecast.com.