IP Group sells down stake in Oxford Nanopore

(Sharecast News) - IP Group has sold around £21m-worth of shares in FTSE 250 outfit Oxford Nanopore Technologies, while retaining a significant holding in the sequencing technology specialist. The science and technology investor said on Friday that it had sold 10m Oxford Nanopore shares, leaving it with 70.8m shares, or 7.23% of the company. The remaining direct stake was worth around £151.5m at the current market price.

Funds managed by IP Group also continue to hold roughly 11.8m Oxford Nanopore shares.

IP Group is a founding investor and long-standing backer of Oxford Nanopore, having provided seed funding when the business was established in 2005 and supported it through its development and eventual London listing.

The company said proceeds from the disposal would increase its financial flexibility and support the allocation of capital across its portfolio and other group priorities.

The company said in its interim results last month that it was targeting more than £250m of exit realisations by the end of 2027, having generated £85.8m over the first nine months of the year.

Chief executive Greg Smith described Oxford Nanopore as "one of the standout successes within our portfolio", adding that the sale represented an appropriate partial realisation while allowing IP Group to retain exposure to the company's future growth.

"We retain a significant investment in Oxford Nanopore, continue to see substantial long-term potential in the business and look forward to supporting its future development as a major shareholder," he said.

IP Group has agreed to a 90-day lock-up covering its remaining direct holding.